On 7 January, the lawyer Martin Mucha, who is the provisional insolvency administrator for German Armstrong DLW, commissioned Ernst & Young to conduct a structured tender process for the financially troubled floor-coverings manufacturer. Prior to that, the provisional creditors’ committee had approved that approach. In a first step, interested parties were requested to submit non-binding offers. The primary objective is a sale of the concern as a whole, which following the cessation of all payments by the controlling company Armstrong World Industries on 11 December 2014 had filed for the commencement of insolvency proceedings at the Heilbronn district court.
Armstrong DLW to be sold in tender process
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