Leslie's secures $150M in DIP and equity financing through Chapter 11 restructuring. Term lenders to provide $90M debtor-in-possession and $60M equity at emergence.

Leslie's, Inc., a pool and spa retailer, filed for Chapter 11 bankruptcy protection on September 30, 2026, with $1.2 billion in liabilities. The company's adjusted EBITDA declined from $292 million to $61 million over three years, rendering its $757 million term loan unsustainable. Under the restructuring plan, term lenders will fund a $90 million DIP facility and contribute $60 million in equity upon emergence, while cutting over $685 million of debt. Leslie's operates over 900 retail locations across 38 states and generated $1.18 billion in sales for the twelve months ended July 4, 2026.