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Floor covering distributors see 2010’s top sellers continuing to pay dividends in 2011

Today’s distributor is far more than the order taker and credit giver of its predecessors; it is a barometer for what is happening in a particular region.

This is true in multiple ways, from general business conditions to the latest in product trends and styles. In fact, when it comes to helping retailers decide which products make the most sense to carry, a distributor is a venerable weather bell of information. Continue reading Floor covering distributors see 2010’s top sellers continuing to pay dividends in 2011

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Judge confirms Congoleum’s reorganization

After more than six years, a district court has approved Congoleum’s reorganization plan, paving the way for the company to emerge from bankruptcy. In the order signed June 7, Judge Joel Pisano of the U.S. District Court in New Jersey stated that the plan was supported by more than 95% of asbestos personal injury claimants.

Now that the plan has the court’s approval, Roger Marcus, president and CEO, said Congoleum will move to implement the plan. “That includes things we have already put in motion but couldn’t complete until the judge ruled favorably on our plan, like finalizing new financing arrangements with the bank. We already have the bank’s approval, but there is a lot of paperwork. We expect to complete these remaining steps and emerge from bankruptcy shortly.” Continue reading Judge confirms Congoleum’s reorganization