LOS ANGELES, CA – Leslie’s Pool Supplies is closing 26 stores across California as part of a broader restructuring after the pool and spa retailer entered Chapter 11 bankruptcy protection, with the company saying its remaining locations will continue operating during the process.
The Phoenix-based company announced Sept. 30 that it had reached a restructuring agreement with a group of existing lenders and would close 76 stores nationwide as it works to reduce debt and reorganize its retail operations.
According to Leslie’s, the restructuring is expected to eliminate approximately 90% of its funded debt while providing new financing intended to keep the business operating during the bankruptcy process.
California has the largest number of stores included in the first wave of closures, with 26 locations scheduled to close.
Which Leslie’s stores are closing in California?
The California locations included in the first wave of closures stretch from Southern California to the Bay Area, Central Coast and Central Valley.
The locations are:
- Cerritos: 11900 South St.
- Chatsworth: 20543 Devonshire St.
- Concord: 5100 Clayton Road
- Diamond Bar: 222 Diamond Bar Blvd.
- Encinitas: 270 El Camino Real N
- Fremont: 35700 Fremont Blvd.
- Fresno: 3756 N. Blackstone Ave.
- Granada Hills: 17618 Chatsworth St.
- La Crescenta: 2651 Foothill Blvd.
- Lake Forest: 23778 Mercury Road
- Los Banos: 2160 E. Pacheco Blvd.
- Montebello: 2553 Via Campo
- Mountain View: 1945 W. El Camino Real
- Novato: 220 Vintage Way
- Palm Desert: 72333 Highway 111
- Paso Robles: 2421 Golden Hills Road
- Pittsburg: 4517 Century Blvd.
- Ramona: 905 Main St.
- San Diego: 8967 Mira Mesa Blvd.
- San Jose: 1988 Tully Road
- San Ramon: 3211 Crow Canyon Place
- Santa Barbara: 3218 State St.
- Selma: 2851 S. Highland Ave.
- Tulare: 1308 E. Prosperity Ave.
- Tustin: 1092 Irvine Blvd.
- Walnut Creek: 2246 Oak Grove Road
The list comes from the company’s bankruptcy-related store closure filings, while Leslie’s says customers can use its store locator to find locations that remain open.
Leslie’s says it is not shutting down
Despite the number of closures, the company says the bankruptcy filing does not mean Leslie’s is going out of business.
The retailer entered a prearranged Chapter 11 restructuring in federal bankruptcy court, a process that allows the company to continue operating while it reorganizes its finances and works with creditors.
Leslie’s said its operations will continue in the ordinary course during the restructuring. Remaining stores and the company’s digital platforms are expected to continue serving customers.
The company also said that gift cards and loyalty program benefits will continue to be honored, while employee wages and benefits are expected to continue during the Chapter 11 process.
The retailer’s official restructuring information page tells customers that stores outside the locations announced for closure remain operational.
Company plans to reduce debt
The restructuring agreement is designed to substantially change Leslie’s financial position.
The company said the agreement with lenders will eliminate approximately $685 million, or about 90%, of its outstanding funded debt.
Leslie’s also secured commitments for $90 million in new-money debtor-in-possession financing and $60 million in equity financing, according to the company’s announcement to investors.
A separate $225 million asset-based financing facility has also been proposed to support the company’s operations during the restructuring.
The financing is intended to give Leslie’s enough liquidity to continue operating while it evaluates its stores and other parts of the business.
More store closures remain possible
The 76 announced closures are not necessarily the final reduction in Leslie’s retail footprint.
The company said it will continue evaluating its real estate portfolio during Chapter 11 to determine which locations best fit its long-term business plans.
In a regulatory filing with the Securities and Exchange Commission, Leslie’s said it had approved a plan to streamline operations and improve long-term profitability. The filing said approximately 76 U.S. stores identified as underperforming or non-performing were closed or selected for closure as part of the plan.
The company expects to vacate the locations that were closed as part of the initial wave within roughly two weeks, according to the filing.
That means customers in California could see additional changes to the retailer’s store network as the bankruptcy case progresses, although the company has not announced a specific second wave of closures.
Leslie’s expects to emerge from Chapter 11 in 2027
The company said it expects to move through the restructuring process with the goal of emerging from Chapter 11 in early 2027.
Until then, Leslie’s says customers can continue shopping at its remaining physical stores, website and mobile app.
The company’s future store footprint will depend in part on the outcome of its real estate review and the restructuring process. For California customers, the immediate impact will be the loss of 26 locations, while other Leslie’s stores across the state remain open.
The retailer said its goal is to use the restructuring to strengthen its balance sheet, improve operations and allow the company to continue investing in its business.
