Baupost-Backed Tile Importer Files for Bankruptcy, Seeks Sale

(Bloomberg) -Fayans and Mosaic Cos.

Most of the tiles and stones, which the company sells through design studios and home development stores, are imported, exposing the mosaic pandem and the shipping outages that beat the supply chains for the following years.

As a result, according to General Manager Randall Jackson, there were either very few products or too much to sell. Jackson refused to share additional load cost loads by pushing the margins of Lowe, Mosaic’s biggest output, pushing the tile importer’s margins down. The company also accused increasing interest rates and tariffs for more recent financial problems.

Mosaic was founded from a family business in which Bupost agreed to return in 2019. Mosaic, according to the court file, Walker Zanger and Opustone – profitably invested 42 million dollars.

Last year, the mosaic sold Opustone for about $ 100 million. The Company has an agreement on selling Walker Zanger within the scope of the 11th episode declarations. Within the scope of this agreement, sales must be approved by the court within 45 days.

According to the court newspapers, the company has approximately 65 million dollars to lenders and unpaid supplier debt. The Walker Zanger Department is one of the dozens of companies filed by workers who claim to have been exposed to dangerous products distributed by various tiles and stone retailers. The company rejects allegations.

Bankruptcy case Mosaic Companys, LLC, 25-11296, US Bankruptcy Court, Delaware Region (Wilmington)

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