Leslie's files Chapter 11 plan and disclosure statement

Leslie's, Inc. filed its Joint Plan of Reorganization and Disclosure Statement with the U.S. Bankruptcy Court for the Southern District of Texas on October 20, 2026. The filings, docketed as numbers 166 and 167 respectively, align with the terms of a restructuring support agreement executed on the petition date. The company and nine affiliated entities initiated voluntary Chapter 11 cases in the Southern District of Texas on September 30, 2026, to implement a pre-arranged reorganization plan. The cases are jointly administered under Case No. 26-90795 (ARP). Prior to filing the bankruptcy petitions, the company parties entered into a restructuring support agreement with certain holders of loans under the Amended and Restated Term Loan Credit Agreement dated March 9, 2021. These creditors are identified as Consenting Term Loan Lenders in the filing. The stock, previously listed on the Nasdaq Global Select Market under the symbol LESL, was suspended from trading on Nasdaq on October 6, 2026. It now trades on the OTC Markets Group's Pink Limited Market under the symbol LESLQ. Nasdaq determined to delist the company's common stock based on two separate notifications. The first notice, received on September 25, 2026, cited the bid price closing below $1.00 per share for 30 consecutive business days. A second notice received on October 5, 2026, cited the commencement of the voluntary Chapter 11 cases. The delisting will become effective 10 calendar days after Nasdaq files a Form 25 with the Securities and Exchange Commission. Deregistration under Section 12(b) of the Securities Exchange Act of 1934 will follow 90 days after that filing, or sooner if determined by the SEC. The company cautions that trading in its securities during the pendency of the Chapter 11 cases is highly speculative. It states that trading prices may bear little or no relationship to actual recovery by security holders. The company expects equity holders may experience a significant loss if the plan is confirmed. The filing notes that forward-looking statements regarding the ability to complete transactions on the contemplated terms or timeline are subject to risk.