An online auction for most of the assets of the Flooring Distribution Group will be held to liquidate FDG assets out of the locations of longtime FDG wood flooring distributors Denver Hardwood Co. Inc. (Denver) and NGF Distributors (Marietta, Ga.).
Court documents from the District Court in Denver County show that Denver Hardwood entered into receivership on Nov. 21, 2024, after it defaulted on a loan from ACF Finco I LP, which is described online as a financial services company based in Tarrytown, N.Y. The filing says that on May 3, 2019, ACF extended credit to Denver Hardwood in the maximum amount of $19,000,000 in a revolving loan and a term loan of $1,000,000. As of Nov. 13, 2024, Denver Hardwood was in default in the amount of $3,872,693.73, including $3,404,681.70 in principal, $14,109.57 in accrued but unpaid interest and $453,902.46 in fees and other charges, exclusive of attorneys’ fees.
The online auction says it is the “complete hardwood and laminate flooring inventory, warehousing and delivery equipment of Flooring Distribution Group.” It includes FDG inventory, including 1,000,000 square feet of flooring, a "huge selection" of trim and stairs, adhesives, finishes and more. It also includes warehousing materials, including forklifts and pallet racking, as well as delivery trucks, box trucks, delivery vans and pickups. Auction photos include vehicles from Denver Hardwood, NGF and Lockwood.
Seth Parker, the director of auction services at the company holding the auction, said that auction lots are still being developed, and interested parties should register for the auction and watch for the bidding to go live. The lots will start closing at 10 a.m. MT on April 3.
At one time FDG included wood flooring distribution companies across the country, including five locations of Lockwood Flooring in the Midwest, two locations of NGF in the Southeast, two branches of Denver Hardwood and one location of Rio Grande Flooring in the Rocky Mountain region, and six locations of Cascade Pacific Flooring Distributors in the Pacific Northwest, and a manufacturing mill, Bison Hardwood, in Montana. On March 29, 2024, the three locations of Cascade Pacific and four locations of Lockwood Flooring that were still operating closed. Keefe Jaten, general manager of Denver Hardwood Co. and director of distribution operations at FDG at the time, cited "continued declining sales and the challenges of the current economic climate."
The Alpharetta location of NGF and Rio Grande Flooring are reportedly not included in the auction.
Bison Hardwood General Manager Hank Adams confirmed to WFB that Bison Hardwood is now a stand-alone entity and still operating.
FDG owner Doug Hamar, who also owns Horner Flooring Co. Inc. (Dollar Bay, Mich.), did not respond to requests for comment on the receivership and liquidation.
