Armstrong Flooring, Inc.
armstrongflooring.comNo Longer Reporting
The company has not filed an annual or quarterly report since its FY2021 10-K, filed Mar 9, 2022. Its latest SEC filing is a 8-K from Oct 6, 2022.
10-K for FY2021, filed Mar 9, 2022
The sections below describe the company as of the FY2021 annual report.
What Did They Do?
Sells resilient flooring for commercial, residential and institutional buildings to distributors, retailers and building professionals.
10-K for FY2021, filed Mar 9, 2022
How Did They Make Money?
Customers buy flooring through purchase orders; products generally ship before payment, and typical payment terms are 30 days.
10-K for FY2021, filed Mar 9, 2022Our primary performance obligation to our customers is the delivery of flooring products pursuant to purchase orders. Control of the…View ↗
$649.9M
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10-K for FY2021, filed Mar 10, 2022
$649.9M ↗
Who Were Their Customers?
Independent flooring distributors resell products to retailers, builders and contractors; the company also sells directly to specialty retailers. It maintains commercial relationships with subcontractor alliances, architectural and design firms, and facility owners.
10-K for FY2021, filed Mar 9, 2022We use our reputation, capabilities, service and brand recognition to develop long-standing relationships with our customers. We sell…View ↗
Did Revenues Turn Into Profits?
No. It lost $53M in FY2021.
10-K for FY2021, filed Mar 10, 2022
−$40.8MView ↗
10-K for FY2021, filed Mar 10, 2022
−$53MView ↗
10-K for FY2021, filed Mar 10, 2022
−$90.9MView ↗
How Were They Changing?
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Oct 6, 2022
CEO departed as company wound down
The company said it had sold substantially all its assets globally and was expected to be wound down.
Sources
8-K, filed Oct 6, 2022
As previously disclosed, the Company has consummated three separate transactions in which it, directly or indirectly, sold substantially…View ↗
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Aug 29, 2022
Sale of substantially all global assets completed
The final transaction closed with the sale of substantially all Australian assets to the Cowes Bay Buyers.
Sources
8-K, filed Aug 29, 2022
As also previously disclosed, following evaluation of all qualified bids received by the Company, the Company entered into: (a) a binding…View ↗
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Aug 1, 2022
North American assets sold; CFO departed
The company closed the sale of substantially all its North American assets to the buyer consortium.
Sources
8-K, filed Aug 1, 2022
On July 25, 2022, the Company consummated the transactions contemplated by the North America Purchase Agreement and closed on the sale of…View ↗
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May 12, 2022
Company filed for Chapter 11 bankruptcy protection
The company and certain subsidiaries filed voluntary petitions and continued operating as debtors in possession.
Sources
8-K, filed May 12, 2022
As previously disclosed, on May 8, 2022 (the “Petition Date”), Armstrong Flooring, Inc., a Delaware corporation (the “Company”), and its…View ↗
Held flat. Revenue was $649.9M in FY2021, about the same as the $704.1M of FY2017.
Hospitality market added
The latest report adds hospitality as a North American commercial market and says the company made its first sales there; the older report lists education, healthcare, retail and office.
10-K for FY2018, filed Mar 5, 2019 10-K for FY2021, filed Mar 9, 2022North American Commercial — Our products are used in commercial and institutional buildings. Our revenue opportunities come from new…View ↗
North American Commercial — Our products are used in commercial, institutional buildings and multi-family housing. Our revenue…View ↗
Who Did They Compete With?
Competes with AHF, Beaulieu International Group, Creative Flooring Solution, Congoleum, Engineered Floors, Forbo Holding, Gerflor Group, HMTX Industries, Interface, LG Floors, Mannington Mills, Mohawk Industries, Shaw Industries, and Tarkett
10-K for FY2021, filed Mar 9, 2022We face strong competition in all of our businesses. Principal attributes of competition include product performance, product styling…View ↗
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