01:27 PM EDT, 07/03/2024 (MT Newswires) -- (Adds details starting in the second paragraph.)

LL Flooring Holdings ( LL ) is considering Chapter 11 bankruptcy to manage declining cash access and sales, Bloomberg reported Wednesday, citing people with knowledge of the matter.

The flooring retailer has faced high interest rates affecting home renovations and may seek creditor protection in the coming weeks, the report said.

The plans are not yet final and may change, Bloomberg said.

LL Flooring ( LL ) didn't immediately respond to a request for comment by MT Newswires.

Shares of the company dropped 25% in regular trading Wednesday. They gained 2% in after-hours activity.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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