Leslie's Prepares Chapter 11 Filing as Soon as Next Week
LESL sits 26% above its 52-week low of $0.267.
Summary
Leslie's is preparing to file for Chapter 11 bankruptcy protection as soon as next week in Houston, according to the WSJ and Bloomberg. This follows the company's August 10-Q, which raised substantial doubt about its ability to continue as a going concern, citing $786.7M in debt and a 2028 term loan maturity. A bankruptcy filing would be a major negative catalyst, likely wiping out equity value and triggering a sharp selloff. The stock is already trading near $0.34, reflecting severe distress. Watch for an official filing or announcement in the coming days.
At the time of this announcement, LESL was trading at $0.34 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $3.2M. The 52-week trading range was $0.27 to $12.53. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Reuters.