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Armstrong to file bankruptcy

Charles Cook

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As some of you know, I work for a company that use's Armstrong products for flooring, walls and ceilings. This will have a big impact on a lot of products on the market. How much more can we take. When a company that's been around as long as Armstrong fails you know we have problems. Don't want to make this a political issue so I'm going to stop right there. What a shame.
 
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This could be some simple debt restructuring under the name of bankruptcy to avoid solvency. Time will tell, as we know not all bankruptcies are the same.
 
With the way companies are run today it's no surprise. They don't look for sustained growth. They care not about tomorrow, it's about getting max return TODAY. To Hades with tomorrow (Some people call it Hell, I call it Hades. Mmm).
Saw it three times with my former employer of 37 years. Family owned and operated and was doing $100 mil a year. The family decided to retire and sold the company to NY "investors", who milked all they could. They sold it to another NY investment company who did the same. The company is now a shadow of its former self. They in turn sold to another NY investment company. They actually started to turn the corner and then "the bug" hit. They had to do something. The cow was dry.
They now have so few clients I don't see how they keep the lights on.
 
I read the Armstrong sold the ceiling part of the company a few years ago. The Bankruptcy would only affect the Flooring company.
 
If it’s Chapter 11 bankruptcy they will just be looking to shed their creditors and/or restructure the company. If it’s another type they’re likely toast.
 
[QUOTE="Charles Cook, post: 912232208, member: 21408"When a company that's been around as long as Armstrong fails you know we have problems.[/QUOTE]

we've had problems for a long time. When companies like Sears and Roebucks, K Mart, Montgomery Ward, Chrysler, etc file, the declne really started.
 
Sad, just sad...

I miss 2-3-4 years ago
 
[QUOTE="Charles Cook, post: 912232208, member: 21408"When a company that's been around as long as Armstrong fails you know we have problems.

we've had problems for a long time. When companies like Sears and Roebucks, K Mart, Montgomery Ward, Chrysler, etc file, the declne really started.[/QUOTE]

Not sure they are quite the same animal. Sears, K Mart, M Ward and similar larger brick and mortar stores have primarily failed due to the rise of eCommerce over the last decade plus. There is quite a lot of analysis out there on this subject. Armstong's public declaration for bankruptcy is due to the more recent problem of material source costs.
 
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Have any foreign made products at your house??
Well then, you are to blame!!!
 
I read that Sears Canada had never in its history had a quarter they didnt make money , wall street boys got control and shut it down , turn out the realestate they owned and the leases were worth more the bussines for a quick flip .
 
Sears had many quarters, and years of losing money in Canada. Between 2009 and 2012, they'd already had to cut thousands of jobs and started selling off leases even back then to generate cash to stay running. From 2014 to 2016 alone their net losses were $727.7 million. If they made money, they wouldn't have been able to get a court ordered creditor protection under the Companies’ Creditors Arrangement Act while they filed for liquidation and bankruptcy.
 
My Dad worked 41 years for Armstrong, at the plant in middle Ga, before he retired. They made mostly ceiling tile at that plant......sad , very sad to see my America fade away......
 
My Dad worked 41 years for Armstrong, at the plant in middle Ga, before he retired. They made mostly ceiling tile at that plant......sad , very sad to see my America fade away......
Wow 41 years, you don’t here stories like that anymore. You are spot on, our America as we know it is fading away.
 
They have 2 jobs in Macon.
The flooring company is not affiliated with the ceiling, wall tile company.
Armstrong World Industries is doing very well.
Armstrong Flooring is a spin off of AWI. became separate in 2016.
 
we've had problems for a long time. When companies like Sears and Roebucks, K Mart, Montgomery Ward, Chrysler, etc file, the declne really started.

Not sure they are quite the same animal. Sears, K Mart, M Ward and similar larger brick and mortar stores have primarily failed due to the rise of eCommerce over the last decade plus. There is quite a lot of analysis out there on this subject. Armstong's public declaration for bankruptcy is due to the more recent problem of material source costs.[/QUOTE]
Sears was the original "e retailer"! They had their mail order catalog business, which could have been the basis for Internet sales. Spiegel also. Both gone. In automotive, JC Whitney.
 
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