Leslie's Pool Supply is exploring a potential Chapter 11 bankruptcy filing as it struggles with a heavy debt load and weak consumer demand, according to a Bloomberg report citing people familiar with the matter. The 63-year-old chain, which closed approximately 80 underperforming stores and one distribution center earlier this year, is considering a range of strategic options including restructuring its $756 million term loan due in 2028, which is currently quoted at about 39 cents on the dollar. The discussions are ongoing and no final decision has been made. The company has reportedly hired Centerview Partners LLC and Simpson Thacher & Bartlett as advisors, while a group of creditors retained Houlihan Lokey and Akin Gump Strauss Hauer & Feld. Leslie's reported a net loss of $52.5 million in its fiscal second quarter, improved from an $83 million loss in the first quarter, but continues to face pressure including removal from the S&P SmallCap 600 index and a credit rating downgrade from S&P Global Ratings to B-.