Financing ·
Leslie’s files Chapter 11 bankruptcy and borrows $45M in DIP term loans as Nasdaq delists stock
LESLLeslie's, Inc.
Leslie’s, Inc. filed voluntary petitions for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of Texas on September 30, 2026. Concurrently, the company entered into a restructuring support agreement with consenting term loan lenders and secured interim approval for debtor-in-possession financing. On October 2, 2026, Leslie’s borrowed $45 million under a senior secured super-priority Term Loan DIP Facility, with an additional $45 million available upon final court order. The company also established a $225 million ABL DIP Facility. Nasdaq notified the company of delisting due to the bankruptcy filing and prior failure to maintain the $1.00 minimum bid price, with trading suspension set for October 6, 2026. Leslie’s operates retail stores selling swimming pool supplies, spas, and related equipment.