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Phoenix Pool Supplies Retailer Leslie’s Files for Bankruptcy, Closing 76 Stores

The restructuring would cut about $685 million in debt and keep remaining stores open as the company seeks to emerge in early 2027.

  • Phoenix-Based pool supply retailer Leslie's filed for Chapter 11 bankruptcy this week, initiating a prearranged restructuring agreement with existing lenders who will take majority control of the company.
  • The Restructuring Support Agreement aims to eliminate approximately $685 million, or about 90%, of outstanding funded debt through $90 million in new-money DIP financing and $60 million in equity commitments.
  • Alongside the financial restructuring, the retailer announced plans to close 76 stores to align its network with customer demand, though specific store locations remain undisclosed.
  • CEO Jason McDonell stated, "Leslie's is here to stay," confirming remaining operations will continue without interruption while the company honors all gift cards and loyalty program benefits.
  • Management expects the Chapter 11 process to proceed efficiently, targeting emergence from bankruptcy in early 2027 as the company evaluates its remaining real estate portfolio.
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Reuters broke the news in London, United Kingdom on Wednesday, September 30, 2026.
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