Leslie’s Inc., the decades-old national retailer of pool supplies, is shutting 19 stores in Florida after filing for Chapter 11 bankruptcy protection in Houston.
The Phoenix-based seller of pool chemicals, maintenance equipment and other products, expects to exit the court-supervised reorganization process early next year with a smaller multi-state footprint and stronger finances.
In a court filing, the company, founded decades ago in North Hollywood, California, said it has arranged interim financing of $90 million and a cash infusion of $60 million through an equity sale.
Management said it intends to remain in business.
“Leslie’s is here to stay,” Jason McDonell, chief executive officer of Leslie’s, wrote in a note to customers.
The company operates more than 900 retail locations across 38 states.
According to schedule of locations to be dropped, stores in the following South Florida cities are expected to be vacated or are already closed:
Palm Beach County: Boynton Beach, Lake Park, West Palm Beach.
Broward County: Hollywood, Pompano Beach, Tamarac.
Miami-Dade County: Miami, two stores.
Elsewhere in Florida, stores are expected to close in Brandon, Clearwater (two stores), Gainesville, Lehigh Acres, Orlando, Port Charlotte, Sarasota, Tallahassee, Tarpon Springs and Tampa.