Armstrong Flooring Nears Sale of US Business After Auction Delay

Armstrong Flooring Inc. is closing in on the sale of its US business after a delayed bankruptcy auction ended and a private meeting with the federal judge overseeing its debt restructuring.

The company said it has final deals to sell its operations in China and Australia, but has not yet finished negotiating the sale of its US assets. Lower-ranking creditors have accused senior lenders of pushing to liquidate instead of saving jobs by selling to a buyer who wants to keep operating the business.

Armstrong is finalizing an agreement for its US assets that will “preserve a substantial portion of ...