Armstrong discusses its future under Chapter 11 protection
According to Olivie, the Chapter 11 filing was a "last resort" for the company after it was unable to find a workable solution to address thousands of asbestos-related claims that threatened the organization's very existence. He went on to say that the business was continuing to operate without interruption and that suppliers would continue to be paid on normal terms for goods and services provided after the Chapter 11 filing date.
"We believe Armstrong will emerge as a much stronger company once the asbestos litigation is behind us," said Olivie. "Our overall objectives have not changed. We are determined to retain our leadership position in hard-surface flooring and strengthen that industry leadership role on a worldwide basis."