Leslie's, Inc. [LESL] - Chapter 11 Bankruptcy Filing
On September 30, 2026, Leslie's, Inc. and its subsidiaries filed voluntary Chapter 11 petitions in the Southern District of Texas to implement a pre-arranged plan of reorganization, seeking approval for a Term Loan DIP Facility and ABL DIP Facility to maintain operations during the proceedings.
Why this matters
Leslie's, Inc., a retailer specializing in pool and spa supplies, has filed for Chapter 11 bankruptcy in the Southern District of Texas as part of a pre-arranged plan to restructure its finances. The company, which operates a network of retail stores across the United States, has entered into a Restructuring Support Agreement with its existing lenders to significantly reduce its debt burden and improve its financial flexibility. The restructuring plan includes $90 million in new debtor-in-possession financing and a $60 million equity financing, with the aim of reducing approximately $685 million, or 90%, of its outstanding funded debt. Leslie's expects to emerge from Chapter 11 in early 2027, with majority ownership transitioning to a group of its existing lenders.