Pool supplies firm Leslie's files for bankruptcy amid sales slump

Leslie's

30/09/2026 15:42

Sept 30 (Reuters) - Pool supplies and service provider Leslie's LESL.O filed for Chapter 11 bankruptcy and entered a debt restructuring agreement with its lenders, the company said on Wednesday, as it battles a sales slump amid weak housing demand in the US.
The Phoenix-based firm said it expects to emerge from bankruptcy proceedings in early 2027.
Here are some details.
Leslie's creditors will issue $90 million in fresh loans and $60 million in equity financing to meet liquidity requirements. It also closed 76 stores.
As part of its debt restructuring plan, about $685 million or roughly 95% of existing dues will be foregone, the company said.
The lenders are expected to take majority control of the company, which sells pumps, covers and pool cleaning materials.
Leslie's, whose financial year usually ends in September or October, has reported falling revenues from 2023 to 2025, while posting annual losses in the last two years.
The company withdrew its full-year sales and core profit forecasts after releasing its third-quarter earnings report in August, citing "uncertainty around the company's ability to continue to drive consumer behavior."
For the nine months to June 28, sales were down 7.3% at $790.4 million, while adjusted loss per share narrowed to $7.13 apiece, from $8.55 the year before.
Inflationary pressure, driven by the war in Iran, as well as higher mortgage rates have pressured US homebuilders, and in turn subdued demand for new pools and related services.

 (Reporting by Nandan Mandayam in Bengaluru; Editing by Shailesh Kuber)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))