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On the Record · LL Flooring Holdings

LL Flooring Holdings layoffs, on the record

Every job cut, severance charge and restructuring LL Flooring Holdings reported in its annual reports, 2021 to 2023, quoted from the filings.

Job cuts, severance and restructuring

  1. Our summaryThe company closed all fourteen stores, with clean-up activities finished early in 2021. All fourteen stores were closed as of December 31, 2020

    Word for word“All fourteen stores were closed as of December 31, 2020, although certain clean-up activities were fully completed early in 2021.” 10-K for 2021

  2. Our summaryThe company reported no material employee termination benefit expenses in 2021 related to store closures. year ended December 31, 2021

    Word for word“There were no material expenses for employee termination benefits or other store closure costs during the year ended December 31, 2021.” 10-K for 2021

  3. Our summaryThe company recorded employee termination benefits as part of its 2020 store closure costs.

    Word for word“Employee termination benefits ​ ​ 411 Write-downs of lease and fixed assets ​ ​ 1,362 Reclassification of Foreign Currency Translation to Earnings ​ ​ 757 Other SG&A store closure costs ​ ​ 432 Selling, General, & Administrative Expenses Subtotal ​ ​ 2,962 Total Store Closure Costs ​ $ 3,784 ​ There are no remaining liabilities for employee termination benefits and accrued store closure costs as of December 31, 2021.” 10-K for 2021

  4. Our summaryManagement took restructuring actions to optimize the company's cost structure, which cut payroll expenses by $10.7 million. Cost: $10.7 million

    Word for word“This decrease is primarily related to a $10.7 million savings in payroll expenses resulting from restructuring actions taken by management to optimize its cost structure as well as a $9.7 million non-cash charge for goodwill impairment taken in the prior year.” 10-K for 2023

LL Flooring Holdings filed 1 restructuring notice (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.

Read from LL Flooring Holdings’s annual reports (10-K for 2023, 10-K for 2022, 10-K for 2021) and the financial data it files with the SEC, as of 2024-03-01. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.