Lumber Liquidators is a company in distress…
The Lumber Liquidators Value Committee (LLVC) is composed of large and small shareholders of Lumber Liquidators. Collectively we control approximately 5% of the outstanding shares. Our control of the company is steadily expanding as more shareholders join our group and demand changes at the company. The group is lead and organized by Mario Rizzi, an activist investor a history of generating positive returns through proxy actions.
“The problem is, the company has lost focus. Lumber Liquidators was always about selling good flooring, at cheap prices, in large volume. That was the growth driver for 20 years. Now, the new management team is focused on raising margins and installation services. They have lost the DIY customer and traffic has been sinking for years. Competitors such as Floor and Decor are happily taking away market share. It’s not rocket science; LL just has to rebuild their associates sales culture and focus on driving merchandise sales and up-sells. Simply growing same store sales by 4 to 5% per year will fix every problem at the company.”
Mario Rizzi, LLVC
Well over 90% of LLVC members support a strategic review and management reform at Lumber Liquidators. In terms of LLVC voting shares, over 97% are supportive. https://www.businesswire.com/news/home/20190906005218/en/Investor-Group-Supports-Strategic-Review-Management-Reform Investor Group Supports Strategic Review and Management [...]
As LLVC members have heard, Lumber Liquidators has been experiencing a nationwide network outage since Wednesday, August 21, 8:30am. It has been 6 days now, and the company still has been unable to resolve [...]