Major MA Retail Chain To Close Stores Amid Bankruptcy

Pool supply retailer Leslie's is closing stores in Massachusetts as part of a bankruptcy restructuring plan.

The company plans to close its locations in Attleboro and Brockton, according to the Street. The closures are among 76 nationwide that Leslie's is closing as it works to reduce debt and shrink its retail footprint, according to the company.

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Leslie's also operates stores in Framingham, Billerica, Norwood, Shrewsbury, Danvers and Salem.

For some communities, the closures could mean the loss of one of relatively few retailers devoted specifically to pool and spa care. Unlike more general home-improvement stores, specialty pool-supply shops cater to a narrower market, offering products and expertise tailored to pool maintenance, water treatment and equipment.

Leslie's said its remaining stores and online operations will continue serving customers during the bankruptcy process. Gift cards and loyalty program benefits will continue to be honored.

The Phoenix-based company recently filed for Chapter 11 protection and said it hopes to emerge from bankruptcy in early 2027.

Under a restructuring agreement announced Wednesday, Leslie's plans to reduce its outstanding funded debt by about $685 million, or roughly 90%.

"Leslie's is here to stay," CEO Jason McDonell said in announcing the restructuring.

McDonell said the company intends to use a stronger balance sheet and greater financial flexibility to reinvest in its stores and online business.

Leslie's operates more than 900 stores across 38 states. The company reported $722 million in assets and $1.2 billion in liabilities when it filed for Chapter 11 protection, according to the Orange County Register.

The retailer has also been struggling with declining sales. For the nine months ending July 4, Leslie's reported $790 million in sales, down 7.3% from nearly $853 million during the same period a year earlier, according to the Register.

Its net loss widened to $87.7 million from $74.2 million during the comparable period.

See also:

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