Leslie's (LESL) Stock Soars Over 23% After-Hours: Here's What's Going On

Leslie's Inc. (NASDAQ: LESL) shares surged 23.38% to $0.20 in after-hours trading following the announcement of a restructuring support agreement that aims to reduce funded debt by approximately $685 million, or 90%. The company is seeking court approval for a $225 million asset-based debtor-in-possession facility and plans to close 76 stores while keeping other locations and digital platforms operational. Leslie's filed for prearranged Chapter 11 bankruptcy, with existing lenders expected to hold majority ownership upon emergence, targeted for early 2027.