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.
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.”
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Comments
2 Comments
Not very surprising. I stopped shopping at Leslie's years ago as their prices were just out of whack with the online retailers. If you have a pool or spa problem that you cannot figure out, they're good but if you know what you want, you're paying too much to shop there.
Even Sam's Club has cheaper prices on buckets of chlorine, and they ship for free. One problem I noticed was that the people they hire at Leslie's lack experience in testing of pool water. They rely entirely on a machine to analyze water samples instead of old school chemical methods. Their lack of experience caused our pool to get completely out of whack. It cost us hundreds of dollars in chemicals there and eventually another $750 to another company to come out, drain our pool, acid wash it, and get it up and running again.