Formerly | Lumber Liquidators Flooring (1994–2022) |
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Company type | Public |
NYSE: LL | |
Industry | Retailing |
Founded | 1994Stoughton, Massachusetts, U.S. | in
Founder | Tom Sullivan |
Headquarters | Richmond, Virginia, U.S. |
Number of locations | 410 (Dec. 2020) [1] |
Area served | United States, Canada |
Key people | Charles E. Tyson (CEO) [1] [2] |
Products | Hardwood flooring |
Revenue | ![]() |
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Total assets | ![]() |
Total equity | ![]() |
Number of employees | 2,230 (2020) [1] |
Website | www |
LL Flooring (formerly Lumber Liquidators Flooring) is an American retailer of hard-surface flooring including hardwood flooring, laminate flooring, vinyl plank flooring, tile flooring, bamboo flooring and cork flooring, as well as flooring tools and accessories.
Lumber Liquidators Flooring was started in 1994 by Tom Sullivan, a building contractor who began purchasing excess wood from other companies. He then resold the wood from the back of a trucking firm's yard in Stoughton, Massachusetts. Three years later in 1996, the company found their niche market in hardwood flooring. On January 5, 1996, the company's first store opened in West Roxbury, Massachusetts, and sold 150 square feet of floors on the first day. By August of that year, they opened up a second store in Hartford, Connecticut. [4]
The company has grown to be one of the largest retailers of hardwood flooring in the United States.[ citation needed ] It expanded to more than 375 Lumber Liquidators stores with over 1,000 employees in 47 states and Canada. It also launched online e-commerce, catalogs, and its Virginia call center. By the end of 2018 the company was operating over 415 stores across North America.
The company is currently headquartered in Richmond, Virginia. The company's CEO is Charles E. Tyson. The firm is listed and trades under NYSE : LL. In 2019 the company announced it would be moving the corporate offices from Toano to Richmond VA.
In 2009, Lumber Liquidators began sponsoring Scripps' HGTV, DIY Network and ABC's Extreme Makeover: Home Edition . [5]
The company expanded into Canada in the fourth quarter of 2010. The expansion plan was to add 36 to 40 stores. [6]
In April 2020, the company publicly rebranded itself, changing its name to LL Flooring. On Dec.10, 2021, it announced the corporate entity name change to LL Flooring Holdings, Inc. would officially take effect January 1, 2022. [7]
In July 2024, LL Flooring warned that it may file for Chapter 11 bankruptcy within the coming weeks due to slow sales and a high decline in home renovation, as the company warns it may run out of money within the third quarter. company's stock fell nearly 20% to around 92 cents per share. [8]
A 2013 report by the Environmental Investigation Agency revealed that Lumber Liquidators' indiscriminate and poor sourcing practices resulted in the destruction of critically endangered tiger habitats and forests. [9]
Further investigation led to the conviction of a Russian supplier in 2014. Shortly after the conviction Lumber Liquidators lost about twenty percent in stock value for potential violation of the Lacey Act. During 2015, the company's stock lost about half of its value in both the leadup to and the wake of a “60 Minutes” report about unsafe levels of formaldehyde in the Chinese-made laminate flooring that it was selling. [10] [11] A number of class action lawsuits were brought on by customers, due to the formaldehyde issue and other customer service issues.
On June 16, 2015, Lumber Liquidators announced the "unexpected" resignation of its CEO, Robert Lynch. It also announced the termination of its Chief Merchandising Officer, William Schlegel. It also declared it would discontinue the sale of laminate flooring products manufactured in China. [12]
The company's founder, Tom Sullivan, served as interim CEO following the resignation and was replaced in November 2015 by John Presley. [13]
On October 22, 2015, Lumber Liquidators pleaded guilty in federal court to the illegal importation of hardwood flooring. [14] In February 2016, a federal judge sentenced the company to $13.15 million in penalties, consisting of $7.8 million in criminal fines, $3.15 million in civil forfeiture, $1 million in criminal forfeiture, and $1.2 million to conservation organizations. [15] It was the largest financial penalty ever issued for violating the Lacey Act of 1900. [16] [17]
Lumber is wood that has been processed into uniform and useful sizes, including beams and planks or boards. Lumber is mainly used for construction framing, as well as finishing. Lumber has many uses beyond home building. Lumber is referred to as timber in the United Kingdom, Europe, Australia, and New Zealand, while in other parts of the world the term timber refers specifically to unprocessed wood fiber, such as cut logs or standing trees that have yet to be cut.
MCI, Inc. was a telecommunications company. For a time, it was the second-largest long-distance telephone company in the United States, after AT&T. WorldCom grew largely by acquiring other telecommunications companies, including MCI Communications in 1998, and filed for bankruptcy in 2002 after an accounting scandal, in which several executives, including CEO Bernard Ebbers, were convicted of a scheme to inflate the company's assets. In January 2006, the company, by then renamed MCI, was acquired by Verizon Communications and was later integrated into Verizon Business.
Plywood is a composite material manufactured from thin layers, or "plies", of wood veneer that are glued together with adjacent layers, having both glued with each other at right angle. It is an engineered wood from the family of manufactured boards, which include plywood, medium-density fibreboard (MDF), oriented strand board (OSB), and particle board.
Engineered wood, also called mass timber, composite wood, human-made wood, or manufactured board, includes a range of derivative wood products which are manufactured by binding or fixing the strands, particles, fibres, or veneers or boards of wood, together with adhesives, or other methods of fixation to form composite material. The panels vary in size but can range upwards of 64 by 8 feet and in the case of cross-laminated timber (CLT) can be of any thickness from a few inches to 16 inches (410 mm) or more. These products are engineered to precise design specifications, which are tested to meet national or international standards and provide uniformity and predictability in their structural performance. Engineered wood products are used in a variety of applications, from home construction to commercial buildings to industrial products. The products can be used for joists and beams that replace steel in many building projects. The term mass timber describes a group of building materials that can replace concrete assemblies.
Pep Boys is an American automotive aftermarket service chain. Originally named Pep Auto Supply, the company was founded in Philadelphia, Pennsylvania, in 1921 by Emanuel "Manny" Rosenfeld, Maurice "Moe" Strauss, W. Graham "Jack" Jackson, and Moe Radavitz. Pep Boys is headquartered in the Philadelphia suburb of Bala Cynwyd, Pennsylvania.
A bamboo floor is a type of flooring manufactured from the bamboo plant. The majority of today's bamboo flooring products originate in China and other portions of Asia. Moso bamboo is the species most commonly used for flooring.
Tyson Foods, Inc. is an American multinational corporation based in Springdale, Arkansas that operates in the food industry. The company is the world's second-largest processor and marketer of chicken, beef, and pork after JBS S.A. It annually exports the largest percentage of beef out of the United States. Together with its subsidiaries, it operates major food brands, including Jimmy Dean, Hillshire Farm, Ball Park, Wright Brand, Aidells, and State Fair. Tyson Foods ranked No. 79 in the 2020 Fortune 500 list of the largest United States corporations by total revenue.
The Sara Lee Corporation was an American consumer-goods company based in Downers Grove, Illinois. On July 4, 2012, Sara Lee Corporation was split into two companies: one for North American operations renamed Hillshire Brands, the other for international beverage and bakery businesses named D.E Master Blenders 1753.
Laminate flooring is a multi-layer synthetic flooring product fused together with a lamination process. Laminate flooring simulates wood with a photographic appliqué layer under a clear protective layer. The inner core layer is usually composed of melamine resin and fiber board materials. There is a European Standard No. EN 13329:2000 specifying laminate floor covering requirements and testing methods.
Louisiana-Pacific Corporation (LP) is an American building materials manufacturer. The company was founded in 1973 and LP pioneered the U.S. production of oriented strand board (OSB) panels. Currently based in Nashville, Tennessee, LP is the world's largest producer of OSB and manufactures engineered wood building products. LP products are sold to builders and homeowners through building materials distributors and dealers and retail home centers.
Laminated veneer lumber (LVL) is an engineered wood product that uses multiple layers of thin wood assembled with adhesives. It is typically used for headers, beams, rimboard, and edge-forming material. LVL offers several advantages over typical milled lumber: Made in a factory under controlled specifications, it is stronger, straighter, and more uniform. Due to its composite nature, it is much less likely than conventional lumber to warp, twist, bow, or shrink. LVL is a type of structural composite lumber, comparable to glued laminated timber (glulam) but with a higher allowable stress. A high performance more sustainable alternative to lumber, Laminated Veneer Lumber (LVL) beams, headers and columns are used in structural applications to carry heavy loads with minimum weight.
The TJX Companies, Inc. is an American multinational off-price department store corporation, headquartered in Framingham, Massachusetts. It was formed as a subsidiary of Zayre Corp. in 1987, and became the legal successor to Zayre Corp. following a company reorganization in 1989.
Carpetright Limited is one of the largest British retailers of floor coverings and beds. The company is owned by Tapi Carpets.
Shoe Carnival Inc. is an American retailer of family footwear. The company operates 429 stores throughout the midwest, south, and southeast regions, and Puerto Rico. It was founded by David Russell in 1978 and is headquartered in Evansville, Indiana.
The Lacey Act of 1900 is a conservation law in the United States that prohibits trade in wildlife, fish, and plants that have been illegally taken, possessed, transported, or sold.
Sustainable flooring is produced from sustainable materials that reduces demands on ecosystems during its life-cycle. This includes harvest, production, use and disposal. It is thought that sustainable flooring creates safer and healthier buildings and guarantees a future for traditional producers of renewable resources that many communities depend on. Several initiatives have led the charge to bring awareness of sustainable flooring as well as healthy buildings. Below are examples of available, though sometimes less well-known, eco-friendly flooring options. The Asthma and Allergy Foundation of America recommends those with allergies to dust or other particulates choose flooring with smooth surfaces – such as hardwood, vinyl, linoleum tile or slate.
Graf Brothers Flooring and Lumber specializes in, and is the world's largest manufacturer of, rift and quarter sawn oak products. Rift & Quartered lumber results from a unique way of sawing that maximizes the yield of lumber with vertical grain. Vertical grain is preferred because of its excellent technical properties. Lumber that has been sawed using this method expands evenly and vertically. Vertical grain also increases the structural integrity of the wood.
Mohawk Industries is an American flooring manufacturer based in Calhoun, Georgia, United States. Mohawk produces floor covering products for residential and commercial applications in North America and residential applications in Europe. The company manufacturing portfolio consists of soft flooring products, hard flooring products, laminate flooring, sheet vinyl and luxury vinyl tile, natural stone and quartz countertops. In Europe, the company also produces and sells insulation, panels and mezzanine flooring. The company employs 43,000 people in operations in Australia, Brazil, Canada, Europe, Malaysia, Mexico, New Zealand, Russia and the United States. A Fortune 500 company, Mohawk is the worlds largest flooring manufacturer.
RiteRug Flooring, formerly Rite Rug, is a flooring retailer headquartered in Columbus, Ohio. RiteRug Flooring's current headquarters, distribution center, wholesale and outlet showroom are located in a 150,000 space in the Whitehall area of the city. They sell floor coverings in the Columbus area. The company had $425 million in revenue in 2021.
Cabinets To Go is an American specialty cabinet retail store chain, offering cabinets for kitchens, bathrooms, laundry rooms, mudrooms, and garages. Founded in 2008 by Tom Sullivan, also founder of Lumber Liquidators. Cabinets To Go is headquartered in Lawrenceburg, Tennessee. The first store opened in Miami, Florida, and now operate 106 stores.