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Leslie's (LESL) plunged 47% in after-hours trading on a report that the pool supplier is evaluating a range of options to lighten its debt load, including a possible Chapter 11 bankruptcy.
The pool supplier has been having confidential talks with its creditors to extend its debt, according to a Bloomberg report on Wednesday, which cited people familiar with the matter. While Leslie's (LESL) has evaluated a bankruptcy filing, talks are ongoing, and no final decision has been made.
Leslie’s is working with Centerview Partners and is being advised by Simpson Thacher & Bartlett, according to the report. A group of creditors is working with Houlihan Lokey and Akin Gump Strauss Hauer & Feld.
Centerview and Houlihan declined to comment to Bloomberg, while messages left with Leslie’s, Simpson and Akin weren’t returned.
Shares of Leslie's (LESL) have sunk more than 75% over the past year.
More on Leslie’s
- Small Caps Are Back!
- Leslie's, Inc. (LESL) Q2 2026 Earnings Call Transcript
- Leslie’s reiterates FY2026 sales $1.1B-$1.25B and adjusted EBITDA $55M-$75M as Price Drop drives traffic
- Leslie’s Non-GAAP EPS of -$5.36 misses by $0.95, revenue of $184.7M beats by $22.23M
- Seeking Alpha’s Quant Rating on Leslie’s
