Case Study: Product Quest
Situation
Product Quest, which made over-the-counter drugs and cosmetics, as well as some prescription drugs and animal health products, filed for bankruptcy and shuttered its operations in 2018.
Tiger’s Role
Tiger Liquidity Services Biopharma Partners (TLSBP) marketed sold all the company’s assets including inventory, machinery and equipment, and real estate in two states. TLSBP also marketed and sold a 16.4 acre lot in Kannapolis, N.C. Product Quests former manufacturing plant included about 150,00 square feet of usable area, with dedicated warehouse space and laboratories, as well asfilling an kitting lines and batching suites.
Resolution
Tiger sold Product Quest’s North Carolina assets to Durham, N.C. -based Turfs Pharma for approximately $4 million. In addition it sold former Product Quest real estate, warehouses and other assets in Daytona, Florida to another buyer for $1.7 million.