July 7 crucial date in future of Armstrong Flooring plant in Beech Creek Township
LANCASTER COUNTY, PA – The future of the Armstrong Flooring plant in Beech Creek Township is up in the air, with a crucial July 7 deadline looming.
According to Thursday information from LNP/LancasterOnline, Armstrong Flooring Inc., battling financial difficulties, will either have secured new owners or face a shutdown as a bankruptcy auction is underway for the Lancaster County-based company.
LancasterOnline said Armstrong Wednesday delayed announcement of a potential buyer for the flooring company which provides 606 jobs in Lancaster County and another 35 in Beech Creek Township. The company voiced dissatisfaction with submitted offers for its North American assets.
Armstrong told the Lancaster news outlet it adjourned negotiations with bidders for its North American assets and the company as a whole because it is seeking “higher and better bids.” The company had been expected to present the best offers for all its assets, including its North American assets, in bankruptcy court Wednesday. According to the article by LancasterOnline’s Lisa Scheid, a bankruptcy judge must review and approve sale terms before any deal can be finalized.
Bidders for Armstrong’s North American assets are set to resume an auction Tuesday to allow for additional time and align with the Delaware bankruptcy court’s availability, the company said in an email statement.
The complete LancasterOnline story can be viewed here:
