Armstrong Flooring Files Bankruptcy, Blaming Rising Costs
- Supply disruptions, higher transportation costs hobble company
- Vinyl flooring maker couldn’t raise prices high enough
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Armstrong Flooring Inc. filed for bankruptcy protection, saying it couldn’t raise prices high enough to keep up with rising supply and transportation costs.
The Chapter 11 filing came after the company spent months trying to find a buyer and haggling with lenders, according to court papers filed in U.S. Bankruptcy Court in Wilmington, Delaware. Armstrong said it owed creditors $317.8 million and had assets worth $517 million.