2,000 workers will lose their jobs as LL Flooring, formerly known as Lumber Liquidators, ceases operations.

LL Flooring, which competes with Home Depot and Lowe’s, is going out of business. The company, founded in 1993 and formerly known as Lumber Liquidators, has been one of the largest flooring suppliers in the US for decades.

In an announcement Friday, president and CEO Charles Tyson said the company will close all of its stores over the next 12 weeks. “It is with a heavy heart that we have to announce that we will begin the process of closing the business of LL Flooring and closing all our stores,” said Tyson in a statement. “This is not the result any of us expected.”

The move comes after LL Flooring closed nearly 100 of its 442 stores earlier this year, filed for Chapter 11 bankruptcy, and began looking for a buyer. At the time, Tyson said a “very challenging environment” was the cause of the store’s challenges.

Although it was reported that the company was negotiating with some applicants, it was not sold. The company decided that it could bring a higher value to its lenders by selling its assets, and sell the merchandise by closing sales in its stores before they closed.

That clearance sale will begin Friday at the remaining 200 stores before rolling back over the next three months.

The majority of LL Flooring locations (37) are in California, followed by Florida (32), Texas (26), Pennsylvania (21), and New York State (21). About 2,000 workers will lose their jobs as a result of the shutdown. The company also said that orders already placed will be completed in the next 30 days, but no new orders will be accepted.

The demise of LL Flooring comes as home improvement stores struggle with inflation and pinched households. As Americans cut costs wherever they can, renovating their homes seems to be one area they can’t decide. As a result, stores that specialize in remodeling have seen sales take a deep dive, and several have gone out of business.

Conn’s HomePlus, which only bought WS Badcock last December and its more than 370 Badcock Home Furniture & More stores, filed for Chapter 11 in July, announcing its plan to close at least 70 of its 170 Conn. stores . In a few days, trading Furniture Today reported that Conn’s is in the process of closing all of its nearly 600 Conn’s and Badcock locations, with the closing sales ending on October 31, 2024. And Big Lots, which has closed a quarter of its stores, recently announced that more -315 are closing. .

“We sincerely appreciate the loyalty of our customers over the past three decades,” said LL Flooring CEO Tyson in the announcement, “and as we begin downsizing and closing our stores, we intend to do so as smoothly as possible to minimize the impact on you, our partners and the communities we serve.”