Business Wire·Sep 30, 2026, 9:27 AM ET

Leslie’s Announces Strategic Transaction to Strengthen Financial Foundation and Position the Company for the Future

Leslie's, Inc. entered a Restructuring Support Agreement to eliminate approximately 90% of its debt (roughly $685 million) & secure $150 million in new capital.
The new capital package includes $90 million in new-money debtor-in-possession (DIP) financing & a $60 million equity financing fully backstopped by RSA parties.
The company initiated prearranged Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Texas with support from over 80% of existing lenders.
Leslie's expects to emerge from Chapter 11 in early 2027, with majority ownership transferring to a group of existing lenders upon emergence.
Operations will continue in the ordinary course, ensuring uninterrupted service for customers via physical stores & digital platforms, while honoring all gift cards & loyalty benefits.
The company announced the closure of 76 stores as part of optimizing its retail footprint to better align with customer demand & long-term business objectives.
Additional funding includes a fully committed $225 million DIP asset-based financing facility from existing ABL lenders to support operations during the restructuring process.
Stakeholders can access case details, filings, & contact information through claims agent Kroll at restructuring.ra.kroll.com/lesliespool or lesliespool.com/our-future/.