Women First Files for Chapter 11
"All assets are up for sale, [and] we have assigned the assets and liabilities ... to a third party, Insolvency Services Group Inc.," chief financial officer Richard Vincent said. "[It includes] the list of names ... and some inventory in the neighborhood of $150,000 to $250,000.
"The catalog is intended to be a continuing concern and to be fired up by the May-June timeframe by whoever the acquirer ends up being. [The online operation is] in a holding pattern."
The company also agreed to sell the rights to its Vaniqa Cream product to SkinMedica Inc. for $25 million. The company does not expect any value to be available for distribution to Women First's stockholders.