Recent Updates — LESL
Leslie’s, Inc. filed a Joint Plan of Reorganization and accompanying Disclosure Statement with the U.S. Bankruptcy Court for the Southern District of Texas on October 20, 2026. The filing follows voluntary Chapter 11 petitions initiated by Leslie's and its subsidiaries on September 30, 2026, to implement a pre-arranged restructuring supported by consenting term loan lenders. Concurrently, Nasdaq notified the company of delisting due to bid price non-compliance and bankruptcy commencement, leading to trading suspension on October 6, 2026, and transfer to the Pink Limited Market under symbol “LESLQ.” The company warns that equity holders may face significant losses if the plan is confirmed. Leslie's operates as a retailer of swimming pool supplies, equipment, and related accessories.
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.
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.
Leslie’s, Inc. reported third-quarter fiscal 2026 results with sales of $458.5 million, an 8.4% decline from the prior year period. Comparable sales fell 6.2%, while gross profit decreased 15.5% to $167.1 million and adjusted EBITDA dropped to $55.7 million from $81.6 million. Net income rose to $47.8 million, driven by a $25.1 million reduction in SG&A expenses and non-cash lease gains. The company withdrew its full-year fiscal 2026 financial outlook due to macroeconomic softness and uncertainty regarding consumer behavior. Additionally, Leslie’s announced it is exploring strategic alternatives with financial stakeholders, which may include deleveraging transactions or other financing activities to enhance liquidity. The company operates in the U.S. pool and spa care industry.