Leslie’s files prearranged Chapter 11: 76 stores shut, lenders take over
Leslie’s filed prearranged Chapter 11 petitions on September 30, 2026 and closed 76 underperforming stores, with lenders holding over 80% of its debt backing the plan. The restructuring targets elimination of roughly $685 million, about 90% of funded debt, and hands majority ownership to the lender group.