The US Bankruptcy Court gave an order approving the sale of the certain assets of Armstrong Flooring, Inc. on March 27, 2023. The debtor has been authorized to sell its certain assets to Site Construction Properties, L.P. for a purchase price of $0.30 million in cash pursuant to the asset purchase agreement dated February 24, 2023. The debtor's assets include certain nonresidential real property located at 1260 Loop Road, Lancaster, Pennsylvania.

Under the terms of the asset purchase agreement, the buyer shall make a deposit of $0.02 million upon the execution of the agreement. The proceeds from the sale would be used to pay costs incurred in seeking approval of the sale, including Broker fees, costs of sale and other professional fees, with one-third of the remaining proceeds paid to the Debtors' estate and the balance paid to the Debtors' secured lender Pathlight. NAI Commercial Partners, Inc. acted as buyer's agent and Bennett Williams Commercial Real Estate acted as seller's agent.