Mosaic Companies Files for Chapter 11

SMYRNA, Ga. – Mosaic Companies LLC, once an up-and-coming contender in surfacing, filed for Chapter 11 bankruptcy earlier this month, with an aim of ending operations in the near future.

The move will involve the sale of at least one noted subsidiary – Walker Zanger – among other actions.

Mosaic submitted a Chapter 11 petition on July 8 at the U.S. Bankruptcy Court in Wilmington, Del. The firm listed assets of between $10 million-$50 million and liabilities of $100 million-$500 million.

Mosaic, founded in 2019, started as a partnership including Albert Claramonte of South Florida distributor Surfaces Southeast and Boston hedge fund Baupost Group. It bought major assets in stone and tile distribution and sales in 2021, including luxury brand Walker Zanger and Opustone, a South Florida slab and tile distributor.

Mosaic began spinning off assets earlier this year, selling Opustone to Construction Resources, a subsidiary of Home Depot, in April for more than $90 million, as reported by Bloomberg and other financial media.

thestreet.com reported on July 8 that Mosaic planned to sell Walker Zanger and Anthology, another tile subsidiary, to Livonia, Mich.-based Artivo Surfaces for $17.5 million plus assumption of certain liabilities. The purchase, however, will not Mosaic’s Perpetua® Quartz brand.

thestreet.com added that remaining Mosaic assets, including Surfaces Southeast, will either be sold or liquidated. Truist Bank N.A. of Charlotte, N.C. is set to provide interim financing.