Shockwaves in Texas: Large Flooring Store Files Bankruptcy! Is Yo

The home improvement market has seen a decline, contributing to a major retailer’s decision to file for bankruptcy and shutter more than 90 stores, including 11 in Texas.

Customers should also be aware that there’s limited time to use any gift cards, even if their nearest store isn’t slated for closure.

LL Flooring, previously known as Lumber Liquidators, announced its bankruptcy filing on Sunday.

The Virginia-based company stated that the bankruptcy proceedings will allow them the financial flexibility and time needed to explore a potential sale.

While more than 300 LL Flooring stores will remain open, special sales are taking place at the locations set to close through September, according to a letter sent to customers.

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The 94 closures span 31 states, including the following Texas locations:

Abilene, TX
Arlington, TX
College Station, TX
Denton, TX
Fort Worth, TX
Houston Galleria, TX
Katy, TX
Killeen, TX
McAllen, TX
San Antonio, TX
Sherman, TX

The retailer has announced that both closing and remaining stores will accept gift cards until September 3. After that date, due to the bankruptcy proceedings, gift cards will no longer be honored at any location.

It's also important to note that gift cards cannot be exchanged for cash.

PICTURES: Country Stars Who Went Bankrupt

There's an old saying that it's easy to make a million dollars in the music business, but it's hard to hold on to one dollar. These country stars found that out the hard way when they ended up going bankrupt.

Gallery Credit: Sterling Whitaker