Mergers & Acquisitions ·
Leslie’s, Inc. filed voluntary petitions for Chapter 11 reorganization on September 30, 2026, to implement a…
LESLLeslie's, Inc.
Leslie’s, Inc. filed voluntary petitions for Chapter 11 reorganization on September 30, 2026, to implement a pre-arranged restructuring supported by lenders holding approximately 81.1% of its Prepetition Term Loan Claims. The plan eliminates roughly $685 million (90%) of outstanding funded debt and secures $150 million in new capital, comprising a $90 million debtor-in-possession term loan facility and a $60 million equity financing. Existing common stock will be cancelled for no consideration, while lenders are expected to receive 55.80% of the reorganized company's equity. Concurrently, the company closed approximately 76 underperforming U.S. stores as part of an operational streamlining strategy. Leslie’s operates in the pool and spa care retail industry.