Leslie's sinks on the report it's considering Chapter 11 bankruptcy

Leslie's (LESL) shares plunged 47% in after-hours trading following reports that the pool supplier is considering Chapter 11 bankruptcy to reduce its debt load. The company is holding confidential talks with creditors to extend debt and has engaged Centerview Partners and Simpson Thacher & Bartlett for advice. While a bankruptcy filing is under evaluation, no final decision has been made. Shares have fallen over 75% in the past year.