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Lumber Liquidators Founder Ends Buyout Bid, Makes Millions

A Lumber Liquidators store in Pacheco, California.

A Lumber Liquidators store in Pacheco, California.

Photographer: David Paul Morris/Bloomberg

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Lumber Liquidators Holdings Inc.’s founder said he has decided not to pursue a buyout of his former company. The shares sank.

Tom Sullivan had been working on a deal, including talking to banks and private-equity firms, but the stock price had gotten too high and the company had declined to engage in discussions, he said Friday in an interview. Sullivan has sold some of his shares, and will continue to monitor the situation, he said.