The DIP financing consists of an asset-based revolving credit facility and a term loan facility (together, the “DIP Facilities”). The DIP Facilities are being provided by the Company’s pre-petition lenders, which include
At yesterday’s hearing, the Company also received approval of its Critical Vendor Motion, which authorizes the Company to use
These approvals come after a prior hearing where the Company received approval for other customary relief to support ordinary-course operations, including continuing employee wages and certain benefit programs, paying certain pre-petition claims of shippers and warehousemen, and honoring customer programs in the ordinary course of business.
The Company continues to work closely with several interested bidders for some or all of its assets and is operating its business as usual throughout the sale process.
For more information about Armstrong Flooring’s Chapter 11 case, please visit http://dm.epiq11.com/ArmstrongFlooring, email ArmstrongFlooringInfo@epiqglobal.com or call (888) 905-0459 for
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Forward Looking and Cautionary Statements
Disclosures in this release and in our other public documents and comments contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Those statements provide our future expectations or forecasts and can be identified by our use of words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “outlook,” “target,” “predict,” “may,” “will,” “would,” “could,” “should,” “seek,” and other words or phrases of similar meaning in connection with any discussion of future operating or financial performance. Forward-looking statements, by their nature, address matters that are uncertain and involve risks because they relate to events and depend on circumstances that may or may not occur in the future. As a result, our actual results may differ materially from our expected results and from those expressed in our forward-looking statements. A more detailed discussion of the risks and uncertainties that could cause our actual results to differ materially from those projected, anticipated, or implied is included in our reports filed with the
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