Armstrong Flooring Obtains Court Approval to Sell Assets for $197 Million

By Leslie A. Pappas (July 12, 2022, 8:28 p.m. EDT) — Armstrong Flooring Inc. won interim approval from a bankruptcy court on Tuesday to complete the $197 million sale of its North American assets, Australians and Chinese after an all-night, all-day scramble to resolve objections from homeowners, insurers, sellers, unions and lenders funding the building materials maker’s bankruptcy.

U.S. Bankruptcy Judge Mary F. Walrath said she would approve the three asset sales based on positive responses from various stakeholders during a virtual sale hearing, which was adjourned multiple times for six hours to give Armstrong time to work out the final sticking points.

The agreements include a partial going concern sale of Armstrong’s North American operations…

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