Leslie's, the swimming pool retailer, is expected to file for Chapter 11 bankruptcy as soon as next week in Houston. The company plans to hand control to its lenders after struggling under a heavy debt load and declining sales. The filing reflects ongoing financial pressure in the retail sector, particularly for businesses burdened by leverage and weakening consumer demand.

Leslie's has faced mounting challenges as higher interest rates and reduced discretionary spending impact its operations. The move aims to restructure its debt and stabilize the business under court supervision.