Chapter 11 Plan: Asset Sales and Liquidation
To stay afloat during the bankruptcy process, Mosaic secured a $15 million debtor-in-possession (DIP) loan from existing lenders. The funds will support a $17.5 million going-concern sale for its two main tile business lines, along with the eventual sale of remaining assets and a formal Chapter 11 liquidation plan.
In total, Mosaic lists $65 million in secured funded debt and approximately $5 million in unpaid trade claims.
Legal Representation
The debtor is being represented by Derek C. Abbott, Matthew B. Harvey, Sophie Rogers Churchill, and Avery Jue Meng of Morris Nichols Arsht & Tunnell LLP, a firm known for steering major corporations through complex bankruptcy proceedings.
This bankruptcy is a cautionary tale for mid-market manufacturers stretched thin by global economic volatility. Mosaic, once positioned for a rebound, now finds itself carving a path toward dissolution—its story a sobering reflection of an industry under siege.
