BUZZ - Reports indicate that Leslie's Inc. is preparing to file for Chapter 11 bankruptcy protection, leading to a subsequent drop in its stock price.

September 24 - ** Swimming pool supplies retailer Leslie’s (LESL.O) saw its share price fall 19% in after-hours trading to about 34 cents

** The Wall Street Journal, citing sources familiar with the matter, reported that, after experiencing a sales boom triggered by the pandemic, LESL is now facing declining sales and is preparing to file for Chapter 11 bankruptcy protection as early as next week

** The report said that under the combined pressure of heavy debt and dropping sales, the company is expected to hand over control to its creditors

** Last month, LESL released its third quarter financial report ((link)), which came in below analysts' expectations, and withdrew its full-year outlook due to a challenging macroeconomic environment

** As of Thursday’s close, the company’s share price had fallen nearly 80% year-to-date

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