Leslie's files prearranged Chapter 11 to cut $685M debt
Leslie's, Inc. filed prearranged Chapter 11, entered an RSA with lenders, and expects to reduce about $685M (90%) of funded debt supported by $90M DIP financing and a $60M equity backstop. The company plans to close 76 stores and target emergence in early 2027.
Leslie's, Inc. entered into a restructuring support agreement with lenders and filed for prearranged Chapter 11. The company said it expects to cut approximately $685M, or 90%, of funded debt. The plan is supported by $90M in DIP financing and a $60M equity backstop.
Leslie's said it will close 76 stores and is targeting emergence in early 2027.