Assets of Vision Quest Lighting, a Darling of Hit Television Show “The Profit” to be Sold at Bankruptcy Auction

AuctionAdvisors has been retained to conduct the auction of substantially all of the assets of Ronkonkoma, NY based lighting manufacturer Vision Quest Lighting (the “Company”). The Company is a Debtor-in-Possession in Chapter 11 Bankruptcy Proceeding “In re Vision Quest Lighting d/b/a E-Quest Lighting”, Case No.: 17-73967 (LAS), pending in the United States Bankruptcy Court for the Eastern District of New York. The auction will take place at the Company’s headquarters at 90 13th Ave #1, Ronkonkoma, NY 11779 on December 19, 2017. In addition to on-site bidding, bidders may also bid online via a live simulcast auction feed. A full catalogue will be available through AuctionAdvisors website http://www.AuctionAdvisors.com. Also available will be the Company’s customer list (which includes mostly “national” accounts) as well as its 3 letter URL: “VQL.COM”.

Airing in January of 2016, the CNBC Television show “The Profit” chose the Company as the subject for an entire episode. The show opened with the Company’s very creative and talented owner/founder Larry Lieberman pitching the show’s protagonist, Marcus Lemonis, on an investment in the Company. Lemonis buys the pitch and, thinking he can add value, agrees to invest $375,000 for 50% of the business. The remainder of the show is devoted to initiatives which might help turn around the Company. This included a visit to the 2015 FABtech show where the Company purchases state of the art manufacturing equipment, and Lieberman’s attempt to secure some trophy jobs. The last scene shows Lieberman very successfully designing and manufacturing lighting for the opening of Sweet Pete’s in Chicago. Unfortunately after an initial surge for the Company which is showcased as the episode comes to a close on a hopeful note – the Company’s apparent turnaround was never to be realized. Lieberman is now preparing for an auction which will include the equipment purchased on the show, as well as all of the Company’s other assets.

“This is an amazing opportunity for metal fabricators and other manufacturers to take advantage of this situation to purchase near new state of the art equipment. This sale is highlighted by the trophy pieces that can take up to 6 months to buy new! A 2500 Watt Mazak Laser & a CNC ring roller which were purchased at…

Read the full article from the Source…

Leave a Reply

Your email address will not be published. Required fields are marked *