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Swimming pool retailer Leslie's has filed for Chapter 11 bankruptcy in Houston, aiming to eliminate roughly 90% of its debt. The Phoenix-based company entered bankruptcy with an agreement backed by more than 80% of its lenders.
Leslie's Inc. has filed for Chapter 11 bankruptcy to restructure its debt, announcing a Restructuring Support Agreement that will eliminate approximately 90% of its outstanding funded debt. The company also secured $150 million in new capital, including $90 million in DIP financing and $60 million in equity financing.