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Chain once known as Lumber Liquidators is going out of business, will be liquidated
(finance.yahoo.com)
this post was submitted on 06 Sep 2024
204 points (98.1% liked)
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How can a lumber business go out of business with lumber prices in the last few years. Shouldn't they be printing money
Turned out, selling cheap Chinese material compromised with formaldehyde wasn't the bargain it was made out to be...
https://artisanwoodfloorsllc.com/hardwood-flooring-blog/the-lumber-liquidators-lawsuit-explained-and-the-dangers-of-formaldehyde-flooring/
https://m.usw.org/blog/2019/lumber-liquidators-agrees-to-33-million-penalty-for-dangerous-made-in-china-flooring
Well, for one thing, if you position yourself as a liquidator or selling stuff for a bargain, and your prices are the exact same as the rest of the market, then you really don't have anything to offer. I'm assuming that's what happened to them. Lumber is so damn expensive that they have no bargain value anymore. Why would you go to a lumber liquidator if you are paying the exact same amount as anywhere else?
Not if the owners have any character