Leslie’s Announces Strategic Transaction to Strengthen Financial Foundation and Position the Company for the Future
Business Wire•30/09/2026•09:27 ET
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Key Highlights
- ➤Leslie’s (LESL) cuts approximately $685 million, or 90%, of outstanding funded debt
- ➤Leslie’s (LESL) secures $150 million capital, including $90 million DIP and $60 million equity financing
- ➤Leslie’s (LESL) files prearranged chapter 11 cases with support from over 80% of existing lenders
- ➤Leslie’s (LESL) announces closure of 76 stores
- ➤Leslie’s (LESL) targets emergence from chapter 11 in early 2027
Expert Statements
Jason McDonell, Chief Executive Officer of Leslie’s
“Today’s announcement marks an important milestone in our commitment to our customers and our business.”
Jason McDonell, Chief Executive Officer of Leslie’s
“With a stronger balance sheet and greater financial flexibility, Leslie’s can reinvest across the business to strengthen operating execution and deliver an even better experience for our customers, both in-store and online.”
Jason McDonell, Chief Executive Officer of Leslie’s
“Leslie’s is here to stay, and I am deeply grateful to our employees, customers, and partners for their continued support as we work to position Leslie’s for a strong future.”
Leslie’s Announces Strategic Transaction to Strengthen Financial Foundation and Position the Company for the Future
Enters into Restructuring Support Agreement to eliminate approximately 90% of debt and secure $150 million of new capital, including $90 million of new-money DIP financing and a $60 million equity financing
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