Editor’s note: Here is the latest in the Lumber Liquidators (LL) saga– ValueWalk has a scoop from “Max Vision”. Below readers can find the statement from ‘Max’- check back later for more coverage.
Later today, we will release internal company documents that show Lumber Liquidators’ sourcing problems are not limited to its laminate products. More specifically, the internal company documents reveal that Lumber Liquidators is currently trying to hide the sourcing of its engineered hardwood products in an effort to mitigate its recall efforts, not to mention its regulatory and legal scrutiny.
Not only is this behavior underhanded and deceptive, it calls into question a variety of other company-wide decisions that have been made in recent past and any future decisions made by current management. Any hope that Tom Sullivan would come in and right the ship has been dashed as the current “relabeling” efforts are underway and happening on his watch.
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UPDATE – the article is now up on Seeking Alpha (paywall) – stay tuned for further analysis.