Former owner of Beverly plant files for bankruptcy | News, Sports, Jobs

LANCASTER, Pa. — Armstrong Flooring — which formerly operated a hardwood flooring plant in Beverly before advertising the procedure in 2018 –announced Monday that the company has filed for individual bankruptcy.
Armstrong Flooring offered its wood flooring division to American Industrial Associates for $100 million in November 2018. The transaction bundled Armstrong’s six wooden floor manufacturing crops, together with the plant in Beverly, which is now operated by AHF Goods.
Randolph County Enhancement Authority Director Robbie Morris said that Monday’s news induced some coronary heart flutters locally until eventually location inhabitants realized that “Armstrong and the Beverly plant are no extended connected.”
“Armstrong Flooring, that firm, offered off its wooden flooring division in 2018, which is what developed AHF in Beverly,” Morris explained to The Inter-Mountain Monday. “When this individual bankruptcy information first broke, I received some frantic calls and texts until finally every person could have an understanding of that Armstrong Flooring and the Beverly plant are no more time linked. This will have zero effects on the Beverly plant.”
“From what I comprehend, it was believed that the wood flooring division was section of the drag on company funds (for Armstrong) when they bought it off,” Morris explained. “Clearly, that was not the situation, due to the fact AHF Merchandise is carrying out particularly nicely. Income are incredibly solid. They are employing and continuing to use and things are heading nicely there.”
Beginning in 2019, AHF Items oversaw an 85,000-sq. foot expansion of the Beverly plant, which is the greatest pre-completed strong hardwood flooring plant in the region.
Armstrong Flooring introduced Monday that the corporation and some of its subsidiaries have submitted for voluntary security under Chapter 11 of the U.S. Personal bankruptcy Code in the United States Bankruptcy Courtroom for the District of Delaware.
In a continuation of an ongoing sale approach, the company intends to continue pursuing a sale of its enterprise as a result of a aggressive Chapter 11 sale approach. The company’s corporations in China and Australia will not be integrated in the Chapter 11 filing, but they are aspect of the sale approach.
“Our business and staff associates have been functioning diligently to strengthen our economical foundation in the deal with of a number of macroeconomic trends–including source chain difficulties, the present inflationary surroundings and continued headwinds from the COVID-19 pandemic,” stated Michel Vermette, President and Main Government Officer.
“With the assistance of our Board of Directors, we have identified that working with the Chapter 11 course of action to effectuate a potential sale is the suitable upcoming step for our Firm. As we have explained earlier, we firmly imagine in the price and potential of Armstrong Flooring–and we are self-confident that this definitive action places us in the finest feasible place to maintain and optimize value for our stakeholders. In the meantime, we are open up for business and keep on being firmly dedicated to our clients, vendors and staff as we navigate the route ahead.”
Armstrong Flooring, Inc., headquartered in Lancaster, Pennsylvania, operates seven production amenities all over the world. The business has been in company for 150 years.









