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Lumber Liquidators Soars as Founder Plans Take-Private Bid

  • Sullivan says he’s already in talks with private equity, banks
  • ‘They are spending money like crazy,’ he says of management
A Lumber Liquidators Holdings Inc. store in Lombard, Illinois.

A Lumber Liquidators Holdings Inc. store in Lombard, Illinois.

Photographer: Daniel Acker/Bloomberg

Updated on

Lumber Liquidators Holdings Inc.’s founder is working on a bid to take the company private as he urges management to consider options for the chain, including a potential sale.

Thomas D. Sullivan -- who owns about 6% of the company’s shares through his F9 Investments LLC -- said he’s already in talks with private equity and banks about a possible bid for the retailer. If he were successful, he’d be interested in merging the chain with his current company Cabinets To Go, he said in an interview.