Armstrong Flooring was sold, and the Lancaster-based company said it had struck an agreement with a group of buyers for $107 million, under which AHF, LLC and Gordon Brothers would acquire most of the company’s assets in North America. The sale must be approved by a court judge before it is final, and a hearing is scheduled for Tuesday, and Armstrong-Floring said the deal would keep the Lancaster plant open, and the company filed for bankruptcy in May. She had hoped to avoid closing any facilities, but operations at the Mississippi and Oklahoma facilities are scheduled to close.
Armstrong flooring for sale.
The Lancaster-based company said it had struck an agreement with a group of buyers for $107 million.
Under the deal, AHF, LLC and Gordon Brothers will acquire most of the company’s assets in North America.
A Delaware bankruptcy court judge must approve the sale before it is final.
Tuesday’s session is set.
Armstrong Flooring said the deal would keep the Lancaster plant open.
The company filed for bankruptcy in May. She had hoped to avoid closing any facilities, but operations at the Mississippi and Oklahoma facilities are scheduled to close.
Elmore Leonard writes for Bjournal, covering news, politics, business, technology, sport, entertainment, and lifestyle. He focuses on clear, reliable reporting and useful information, helping readers stay informed about current events, emerging trends, and stories that matter.
More Stories
Apple and Schneider Electric Unveil Smart Thermostat Designed to Reduce Energy Bills
Higher Diesel Prices Improve Biodiesel Economics as Global Biofuel Demand Raises Land-Use Questions
Amazon Suspends 21 Air Cargo Operations After Fatal Miami Runway Crash