Women First Files for Chapter 11
Specialty pharmaceutical company Women First HealthCare Inc., San Diego, announced its Chapter 11 bankruptcy filing in the U.S. Bankruptcy Court for the District of Delaware last week."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.
