Baupost-Backed Tile Importer Files for Bankruptcy, Seeks Sale

Mosaic Cos., which sells tile and stone flooring, filed for bankruptcy with plans to sell its operations after the company’s main backer, an affiliate of investment giant Baupost Group, was unable to help the business navigate import problems that began during the Covid-19 pandemic.

Most of the tile and stone the company sells through design studios and home-improvement stores are imported, which exposed Mosaic to the shipping disruptions that snarled supply chains during the pandemic and the years that followed, the company said Tuesday in a court filing.

As a result, it either had too little product, ...