The Henrico County, Virginia-based retailer also asked the company managing the closeout sale at 94 stores to expand the campaign to all 300-plus locations.

The company, which changed its name from Lumber Liquidators in the wake of lawsuits over formaldehyde-contaminated floors and accusations of destroying habitat for endangered animals, said it has sold its Sandston distribution center to a Delaware-based limited liability company for $104.75 million.

LL Flooring stated in its filing: “Despite the Company’s extensive efforts and negotiations with multiple bidders to effectuate a sale of the Company as a business and an extension of the original time period for entering into the Stalking Horse Agreement, the Company was unable to enter into a Stalking Horse Agreement that, in the Company’s business judgment and after consultation with key stakeholders, would maximize the value of the Company’s assets for the benefit of its stakeholders.”

This concerned an agreement with a potential interested buyer to establish a minimum price for the company’s assets prior to a bankruptcy court decision on a reorganization plan or an auction of those assets.

As a result, the company said it had informed the bankruptcy court that it intended to liquidate its business.

In a letter sent to LL Flooring Hilco Merchant Resources, the company agreed to close its remaining retail stores.

Hilco announced that various LL Flooring store promotions, such as “Store Closings,” “Everything Must Go,” and “Everything on Sale,” will begin on or around September 6 and end no later than November 30.

LL Flooring is struggling with low demand and US Customs holding back some products. The company has lost money for seven straight quarters under current management.

The company, which employs about 2,100 people nationwide, joins a growing list of retailers that have filed for bankruptcy this year, including craft chain Joann, cosmetics retailer The Body Shop and clothing store Express.

The struggling company, which just battled one of the fiercest corporate battles for control of a company in recent years, last month asked the U.S. Bankruptcy Court in Delaware to give it some respite from creditors while it tries to sell its business as a going concern.

The goal was to “provide LL Flooring with additional time and financial flexibility as we reduce our physical presence and close certain stores, while pursuing the sale of the remainder of our business,” Charles Tyson, president and CEO of LL Flooring, said at the time.

The plan was to close 94 stores and sell the distribution center, while continuing to operate the remaining stores and the online sales platform. Banks promised support of $130 million in financing.

Court documents show the company has assets of $501 million and debts of $416 million, with the two largest creditors — a Singaporean vinyl company and a Thai bamboo carrier — owed more than $7 million each.

Earlier this year, the company’s late founder Thomas Sullivan launched a successful campaign to return to the board with two allies, claiming that the company’s leaders “oversaw staggering operating losses and stuck to a failed strategy that left the company on the brink of bankruptcy.”

The board defended itself, saying that during Sullivan’s tenure at the helm, “the former ‘Lumber Liquidators’ name and brand were permanently damaged” and that it believed Sullivan might be trying to force the sale of the company to himself.