Flooring chain files bankruptcy, to close 94 stores

(CNN)– LL Flooring has filed for chapter 11 bankruptcy.

The Home Improvement retailer, formerly known as Lumber Liquidators, is also closing 94 stores in more than 30 states.

Three hundred stores will remain open.

According to bankruptcy filings, LL Flooring is nearly 110 million dollars in long-term debt.

The company says slowing home sales and rising interest rates impacted its business.

Existing lenders, including Bank of America has given LL Flooring 130 million dollars in Chapter 11 financing.

LL Flooring is now attempting to find a buyer.