TOANO, VA - Lumber Liquidators announced that it has opened or remodeled 18 new stores in the first five months of 2015.
The upbeat news turns the subject away from a challenging series of revelations about its flooring manufactured in China. Following news reports that laminate flooring made for it in China had formaldehyde levels exceeding California Air Resources Board (CARB) standards, Lumber Liquidators saw its sales fall and stock value drop.
The Environmental Protection Agency, meanwhile, offered a supportive note at its site regarding potential investigations of Lumber Liquidators. "Is EPA investigating the sale of the laminate wood flooring as featured in the 60 Minutes segment? Because national formaldehyde emissions standards will not take effect until after EPA issues its final implementing regulations, EPA is not yet doing any enforcement investigations relating to the formaldehyde emissions standards for composite wood products,"
Tom Sullivan, acting CEO since May 20 when Daniel Lynch quit that job, says, "Lumber Liquidators continues expanding. . . Our stores have become a destination for those who want to improve their home with beautiful hardwood flooring." The company now has more than 355 stores in 46 states and Canada.
The newest stores and remodels, about a third of the total, are designed around expanded showrooms and improved warehouse design to offer a larger assortment of flooring options, mouldings, accessories and tools, with a variety of floors installed so customers can walk on different styles and species of wood.
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