Leslie's Pool Supplies filed voluntary prearranged Chapter 11 bankruptcy cases in federal court this week and said it will close 76 stores as part of a restructuring agreement with a group of its existing lenders. The company said it expects to emerge from Chapter 11 in early 2027.
For shoppers looking at the brand now, the filing matters because Leslie's said it will keep operating while the case moves forward. The retailer said its remaining stores will stay open and fully operational, its physical stores and digital platforms will continue to serve customers without interruption, and gift cards and loyalty program benefits will still be honored.
Jason McDonell said the move marks an important milestone in the company's commitment to its customers and its business. He said the restructuring gives Leslie's a stronger balance sheet and more financial flexibility to reinvest across the business, strengthen operating execution and improve the customer experience in stores and online.
The financing package tied to the deal includes commitments for $90 million of new-money debtor-in-possession financing and a $60 million equity financing. Leslie's also filed motions seeking approval of a $90 million DIP facility and a fully committed $225 million DIP asset-based financing facility from its existing ABL lenders.
Leslie's described itself as the largest direct-to-consumer brand in the pool and spa care industry serving residential customers and pool professionals around the country. Under the restructuring, the company said it will emerge under the majority ownership of the same group of existing lenders that backed the deal, a sign of how far the balance of power is shifting as it works through Chapter 11.
The company has not identified which 76 stores will close, so the immediate impact on specific markets remains unclear. Even so, the message from Leslie's is plain: it is trying to keep serving customers while trimming its store base, and the clock on that turnaround is already running toward early 2027.
