LL Flooring Holdings, Inc.

investors.llflooring.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2024 10-Q, filed May 8, 2024. Its latest SEC filing is a 15-12G from May 13, 2025.

The sections below describe the company as of the FY2023 annual report.

What Did They Do?

Sells hard- and soft-surface flooring, carpet, accessories and installation services to consumers and flooring professionals buying on behalf of consumers.

How Did They Make Money?

Customers pay for flooring merchandise and any separately purchased delivery or installation services. LL Flooring generally requires payment in full when customers take possession of merchandise or receive a service; for special-order or out-of-stock merchandise, it generally takes a deposit of about half the sale when the order is placed.

FY2023 revenue

Who Were Their Customers?

Customers research across stores, the website, contact center and catalogs, but most often complete purchases in stores; Pros can also order online through a dedicated e-commerce experience.

Did Revenues Turn Into Profits?

Not on paper. It lost $103.5M in FY2023, but brought in more cash than it spent: $4.3M of free cash flow.

Operating income, FY2023

−9% of revenue

▲ +589% (Loss) vs FY2022 (−$11.7M, −1%)

Net income, FY2023

−11% of revenue

▲ +757% (Loss) vs FY2022 (−$12.1M, −1%)

Free cash flow, FY2023

0% of revenue

▲ Now profitable vs FY2022 (−$138.8M, −12%)

How Were They Changing?

Since the FY2023 annual report

Latest quarter: Q1 FY2024, the three months to Mar 31, 2024

Revenue: ▼ −22%; vs $240.7M in Q1 FY2023
Net income: ▲ +174% (Loss); vs −$10.6M in Q1 FY2023

Nov 1, 2024 CEO Charles Tyson resigned as officer and director
Oct 1, 2024 Completed sale of the business and Sandston distribution center F9 Investments acquired 219 stores, inventory, intellectual property and other assets; LL Flooring also sold the Sandston distribution center.
Sep 9, 2024 Filed for Chapter 11 and agreed to sell the business The company filed for Chapter 11 and later reached an agreement to sell the business to F9 Investments as a going concern.
Aug 13, 2024 NYSE began delisting proceedings after Chapter 11 filing The company said its common stock was expected to be delisted and to continue trading on the OTC market.

Shrank. Revenue fell 17% in 4 years, from $1.1B in FY2019 to $904.7M in FY2023, about 5% a year.

Expanded into carpet The latest report adds carpet to the product range, alongside hard-surface flooring; the older report described a hard-surface flooring assortment.

Customer focus The older report described sales to homeowners, contractors and commercial customers. The latest report describes the main groups as consumers and flooring professionals buying on consumers’ behalf.

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