Leslie's, Inc. [LESL] - Chapter 11 Bankruptcy Filing
On September 30, 2026, Leslie's, Inc. and its subsidiaries filed voluntary petitions for reorganization under Chapter 11 in the Southern District of Texas to implement a pre-arranged plan of reorganization.
Why this matters
Leslie's, Inc., a Delaware-incorporated company operating in the retail sector with a focus on pool and spa supplies, has filed for Chapter 11 bankruptcy in the Southern District of Texas as of September 30, 2026. This filing is part of a pre-arranged plan of reorganization, driven by the need to strengthen the company's capital structure and improve financial flexibility. The company has entered into a Restructuring Support Agreement with existing lenders, which includes $90 million in debtor-in-possession financing and a $60 million equity financing, aimed at reducing approximately $685 million or 90% of its outstanding funded debt. Leslie's aims to emerge from Chapter 11 in early 2027, with the expectation of being under the majority ownership of its existing lenders.