as nyse ll industry retailing founded stoughton massachusetts u.s. 2004 founder tom sullivan headquarters toano virginia u.s. number of locations 300 june 2013 1 area served united states canada products hardwood flooring revenue us 813.33 million 2012 1 operating income us 78.35 million 2012 1 net income us 47.06 million 2012 1 total assets us 347.39 million 2012 1 total equity us 234.54 million 2012 1 number of employees 1 420 2012 1 website www.lumberliquidators.com lumber liquidators stylized as lumber liquidator is an american retailer of hardwood flooring . lumber liquidators store ypsilanti mi contents 1 history 1.1 founding 1.2 expansion 1.3 controversies 2 references 3 external links history edit founding edit lumber liquidators was started in 1993 by tom sullivan a building contractor who began purchasing excess wood from other companies . he then resold the wood from the back of a trucking firm s yard in stoughton massachusetts . three years later in 1996 the company found their niche market in hardwood flooring . on january 5 1996 the company s first store opened in west roxbury massachusetts and sold 150 square feet of floors on the first day . by august of that year they opened up a second store in hartford connecticut . 2 expansion edit the company has grown to be one of the largest retailers of hardwood flooring in the united states . citation needed it expanded to more than 375 lumber liquidators stores with over 1 000 employees in 47 states and canada . it also launched online e commence catalogs and its virginia call center . the company is currently headquartered in toano virginia . the company s ceo is john pressley . the firm is listed and trades under nyse ll . in 2009 lumber liquidators began receiving sponsorship from scripps hgtv diy network and abc s extreme makeover home edition . 3 the company expanded into canada in the fourth quarter of 2010 . the expansion plan was to add 36 to 40 stores . 4 controversies edit a 2013 report by the environmental investigation agency revealed that lumber liquidators indiscriminate and poor sourcing practices resulted in the destruction of critically endangered tiger habitats and forests . 5 further investigation lead to the conviction of a russian supplier in 2014 . shortly after the conviction lumber liquidators lost about twenty percent in stock value for potential violation of the lacey act . during 2015 the company was involved in controversy regarding the level of formaldehyde in the chinese made laminate flooring that it was selling . 6 the company appointed john m. presley as chief executive officer . 7 the company s founder tom sullivan served as interim ceo following the resignation and was replaced in november 2015 by john presley . 8 on october 22 2015 lumber liquidators pleaded guilty in federal court to the illegal importation of hardwood flooring . 9 in february 2016 a federal judge sentenced the company to 13.15 million in penalties consisting of 7.8 million in criminal fines 3.15 million in civil forfeiture 1 million in criminal forfeiture and 1.2 million to conservation organizations . 10 it was the largest financial penalty ever issued for violating the lacey act of 1900 . 11 references edit a b c d e f g 2012 form 10 k lumber liquidators holdings inc . u.s. securities and exchange commission . about us . lumber liquidators . 2015 . retrieved march 26 2015 . miley marissa february 24 2009 . sponsorships help insulate lumber liquidators from housing crisis . advertising age . new york . retrieved march 26 2015 . city james april 29 2010 . lumber liquidators expanding into canada . daily press . newport news . retrieved march 26 2015 . liquidating the forests . environmental investigation agency . washington d.c. august 14 2014 . retrieved march 26 2015 . lumber liquidators shares spike as critics back off by everett rosenfeld cnbc december 14 2015 retrieved december 17 2015 . yu roger may 21 2015 . lumber liquidators ceo resigns unexpectedly . usa today . retrieved 21 may 2015 . lumber liquidators names a new ceo as sales slump persists . forbes . retrieved 2015 11 04 . lumber liquidators pleads guilty to environmental crimes agrees to pay more than 13m by everett rosenfeld cnbc october 22 2015 retrieved december 19 2015 . bomey nathan . lumber liquidators sentenced in wood import scheme . usatoday.com . usa today . retrieved 1 february 2016 . huang jiayue 22 october 2015 . lumber liquidators pays 13.2 million for environmental crimes . usatoday.com . usa today . retrieved 1 february 2016 . external links edit official website retrieved from https en.wikipedia.org w index.php title lumber liquidators & oldid 743893867 categories 1993 establishmentscompanies based in virginiacompanies listed on the new york stock exchangeforest products companies of the united stateshidden categories pages using infobox company with unsupported parametersall articles with unsourced statementsarticles with unsourced statements 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