Quantum provides processed and packaged beef, poultry, and pork to retailers, foodservice providers, restaurants, and institutional customers in the U.S. and abroad. The Company has a staff of more than 1,100 employees and gross revenue in excess of $500,000,000.
The Company filed for Chapter 11 bankruptcy protection and had procured a strategic buyer and stalking horse. During the diligence period the buyer claimed a material change and did not close the purchase. With limited liquidity the CRO was forced to cease production.
The CRO and the senior secured creditors turned to Tiger to run a dual process beginning a liquidation of the company while soliciting a new strategic buyer.