LL Flooring Avoids Liquidation With Bankruptcy Sale Approval

LL Flooring Holdings Inc. won court approval of a sale to private equity firm F9 Investments, staving off what appeared to be a likely liquidation of the flooring retailer.

The company, formerly known as Lumber Liquidators, will receive cash of up to $43 million in exchange for the assets tied to 219 stores as part of the sale, according to court papers. Judge Brendan L. Shannon of the US Bankruptcy Court for the District of Delaware signed off on the deal during a hearing Monday.

The sale is a stark turnaround from just a couple of weeks ago, when LL ...