Beaulieu Group files for Chapter 11 bankruptcy protection

July 17, 2017

Beaulieu-AmericaDalton—Beaulieu Group LLC announced that it has filed voluntary petitions under Chapter 11 in the U.S. Bankruptcy Court for the Northern District of Georgia, Rome Division.

According to Beaulieu, the company’s existing lenders have agreed to continue to support the company by providing debtor-in-possession (DIP) financing that will be combined with its cash from operations to ensure and support continued business operations.

“Beaulieu family members and our board of managers believe pursuing a restructuring through Chapter 11 is the best path forward at this time,” said Michael Pollard, president of Beaulieu Group. “We have evaluated alternatives to address Beaulieu’s capital structure, and believe that restructuring through the Chapter 11 process will best position all of Beaulieu Group LLC’s businesses for future success.”

Pollard continued, “this is a necessary process as we continue to execute our long-term strategic plans for the business. Our business model has changed with the industry and our client base since our current capital structure was put into place. This restructuring will allow us to invest in the business going forward and emerge a stronger organization. We remain steadfast in our commitment to our customers and employees throughout this process. I am confident that we have the talented and committed team capable of executing the reorganization plan. We appreciate the support of our vendors and customers as we move through this process.”

Related Articles

Floor Covering News

Press Release

InstaFloor partners with Duracryl

Farmers Branch, Texas—Duracryl International B.V. and InstaFloor N.A. have formed a partnership, whereby InstaFloor will support and market Corques Liquid Lino (CLL), a liquid self-leveling linoleum product, in the North

Read More

Crossville launches new gauged porcelain tile panel collections

Crossville, Tenn.—Crossville has announced the introduction of two gauged porcelain tile products: Calce and Cava. Neutral colors and delicate nuances mark the face of Calce, a line inspired by wet

Read More

INSTALL announces Canadian National Apprenticeship Competition winner

Glassboro, N.J.—The best floor covering apprentices in Canada recently convened in historic Charlottetown, Prince Edward Island, for a unique installation competition. Marking its 25th anniversary, the United Brotherhood of Carpenters

Read More
Open