Armstrong Flooring information for individual bankruptcy

Armstrong Flooring information for individual bankruptcy

Armstrong Flooring has filed for individual bankruptcy.The Lancaster County-based mostly organization experienced beforehand announced it was on the lookout to promote its small business. That sale will continue even however the enterprise has submitted for Chapter 11 personal bankruptcy security.Chapter 11 will allow a organization to proceed to work even though restructuring its debt.In a statement, President and CEO Michel Vernmette claimed, “Our enterprise and workforce users have been doing the job diligently to reinforce our economic foundation in the experience of several macroeconomic developments — such as offer chain challenges, the present-day inflationary natural environment and continued headwinds from the COVID-19 pandemic.”Vermette went on to say the corporation is open for small business and remains dedicated to its consumers, suppliers and personnel as it navigates the route ahead.Armstrong has functions in China and Australia. Individuals functions will not be element of the individual bankruptcy submitting, but they will be portion of the sale.

Armstrong Flooring has submitted for individual bankruptcy.

The Lancaster County-centered organization experienced previously announced it was seeking to market its business enterprise. That sale will keep on even though the organization has submitted for Chapter 11 bankruptcy safety.

Chapter 11 lets a business to go on to run though restructuring its personal debt.

In a assertion, President and CEO Michel Vernmette said, “Our company and workforce customers have been doing the job diligently to fortify our financial foundation in the encounter of numerous macroeconomic developments — which includes provide chain problems, the present inflationary ecosystem and ongoing headwinds from the COVID-19 pandemic.”

Vermette went on to say the business is open for company and remains fully commited to its consumers, suppliers and staff members as it navigates the route ahead.

Armstrong has functions in China and Australia. Those people operations will not be section of the individual bankruptcy filing, but they will be section of the sale.