This National Retail Chain Filed For Bankruptcy And Announced 76 Store Closures

For well over six decades, pool owners across America have relied on the Leslie's brand's premier combination of expert advice, pool care, and repair services to tend to their needs. However, on September 30, 2026, Leslie's joined the slew of other retail chains that have filed for bankruptcy, seeking Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. The filing followed the closure of 76 locations across the country. The bankruptcy filing is part of an effort to restructure the business and reduce its debt. It follows an earlier round of 80 store closures in 2025, and Nasdaq has moved to delist Leslie's stock.

Leslie's lenders have pledged $90 million in loans to help keep the business running during bankruptcy and another $60 million in exchange for an ownership stake in the restructured company. The proposed restructuring would also eliminate approximately $685 million in existing debt. Those lenders are expected to take majority ownership when the company emerges from bankruptcy, which Leslie's hopes to accomplish by 2027. In the meantime, you can continue shopping online or at its remaining stores. According to Leslie's customer FAQ, the company will continue honoring gift cards and Pool Perks rewards, while returns, exchanges, and scheduled services will continue under existing policies.

The problems that led to Leslie's bankruptcy filing appear to have intensified after the pandemic boom faded. Leslie's CFO Jeff White explained in a court declaration cited by BankruptcyData that homeowners' increased spending on pools and outdoor improvements during COVID-19 resulted in a surge in demand. However, by 2023, that demand had begun to subside as higher interest rates and inflation slowed consumer spending. White said many customers chose to repair their equipment instead of replacing it, and this meant less revenue for Leslie's. On top of all this, unfavorable weather in 2024 and 2025 shortened swimming seasons in some markets, further reducing sales.

That said, Leslie's wasn't only subject to the whims of weather, the market, and a global pandemic; CEO Jason McDonell also admitted that its pricing was part of the problem. On February 17, 2026, McDonell told investors during an earnings call transcribed on Marketbeat that the company's prices were "often out of step in the market." Leslie's ended fiscal 2025 with 160,000 fewer residential customers, and McDonell said its pricing was partly to blame.

Uncompetitive pricing weakened Leslie's position, particularly since the company also competes with Walmart, Costco, Home Depot, and Amazon — at least, according to its own annual 2025 filing. As RTM Nexus CEO Dominick Miserandino told TheStreet, "a lot of what it sells simply isn't hard to find anymore." Leslie's advice and services remain valuable when customers have problems with their pools, but that expertise provides less of an advantage when shoppers simply need supplies they can buy elsewhere.