Phoenix pool retailer Leslie’s files bankruptcy papers, strikes deal to cut 90% of debt

The prearranged deal with its creditors includes shuttering stores and changing control of the company.

BY BRANDON BROWN/PHOENIX BUSINESS JOURNAL

Oct 1, 2026, 11:39 AM

The Leslie's Pool Supplies location at 44th Street and Thomas Road in Phoenix.

Phoenix pool retailer and supplier Leslie’s Inc. has filed for Chapter 11 bankruptcy protection as part of a prearranged deal with its creditors that includes shuttering stores and changing control of the company.

The embattled company filed its voluntary petition for Chapter 11 on Sept. 30 in the United States Bankruptcy Court⁠ for the Southern District of Texas where it listed its total debt at $1.2 billion and company assets at $722 million, as of July 4, 2026.

Leslie’s (Nasdaq: LESL) announced the Chapter 11 filing was part of a restructuring support agreement with a group of its existing lenders. The deal includes handing control of the company to its creditors, reducing Leslie’s long-term debt by $685 million, or 90%, and the closure of 76 stores.

In its latest earnings report, which came out in August, Leslie’s said it has more than 900 stores open across the country. The company’s website still lists dozens of stores in the Phoenix area. The locations of the store closures were not disclosed. The company indicated in a Sept. 30 announcement it will “continue to evaluate its real estate portfolio to better align its footprint with the long-term needs of the business.”

This is story is posted in partnership with Phoenix Business Journal. Click to read the full story here.