STILLWATER, Okla. (KFOR) – Employees at an Oklahoma flooring plant will soon have to look for new jobs after their company was sold.

Armstrong Flooring, Inc. announced that almost all of its North American assets were being purchased by several buyers after the company filed for bankruptcy.

As a result of the purchase, Armstrong Flooring said it “would pursue an orderly winddown of its Jackson and Stillwater locations on July 15, 2022.”

“We have been working hard to execute an efficient and value-maximizing sale of the business while keeping the best interests of our valued stakeholders at the forefront of all that we do. In light of the agreement we have reached with AHF and Gordon Brothers, and the agreements we are close to signing with the buyers of the Chinese and North American businesses following consummation of the auction, Armstrong Flooring is now one step closer to achieving that goal,” said Michel Vermette, President and Chief Executive Officer. “We had hoped to identify a buyer for the entire business and avoid any closures of our facilities; however, based on the options available to us, we believe this is the best possible path forward for our business. This reflects the support of our ABL lenders, creditors and other key stakeholders, and has been approved by our Board of Directors. While we cannot speak on behalf of the proposed buyers, we are encouraged that they see the potential of the Company in the markets we serve and understand the role our people play in driving the business forward.”

Stillwater’s plant has been in business since 1987.