Leslie's drops after report co preparing Chapter 11

By Reuters News

** Swimming pool supplies retailer Leslie’s LESL.O shares fall 19% to about 34 cents in extended trading

** LESL preparing to file for chapter 11 bankruptcy as soon as next week after struggling with declining sales following a pandemic-induced boom, WSJ reports, citing people familiar with the matter

** Co expected to hand control to its lenders after struggling under heavy debt load and declining sales, report says

** Last month, LESL posted Q3 results below analysts estimates and withdrew its full-year outlook due to a challenging macro-environment

** As of Thursday's close, stock down nearly 80% YTD

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