Armstrong Flooring Hits Ch. 11 In Del. With a debt of 160 million dollars

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By Rick Archer (May 9, 2022, 10:09 a.m. EDT) – Pennsylvania flooring supplier Armstrong Industries has reached Chapter 11 in Delaware with more than $160 million in secured debt following a failed attempt to find a buyer, saying it was facing rising costs, supply chain issues and tough credit terms.

Armstrong, which filed for bankruptcy Sunday alongside its licensing and Latin American subsidiaries, sought court approval for $30 million in senior secured debtor-in-possession financing in a petition filed Sunday.

“With the support of our Board of Directors, we have determined that using the Chapter 11 process to complete a potential sale is the right next step for our business,”…

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