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Source; Big Squid “Hobbico, Inc. Files Petition for Chapter 11 Relief and Pursues Sale of Company Seeks Protection from Creditors to Restructure and Attract New Capital Investment; Operations Continue Throughout Bankruptcy Process CHAMPAIGN, Ill. – January 10, 2018 – Hobbico, Inc. (“Hobbico” or “

Since 1971, Hobbico has grown into one of the largest United States distributors of radio-control and general hobby products.While the company has been in business for many years and seen much success, our industry is very tough. In re: Hobbico, Inc., et al., Case No. 17-xxxxx. United States Bankruptcy Court, District of Delaware. On December 9, 2017 (the "Petition Date"), Hobbico, Inc. and certain of its affiliates (together, the “Debtors”) filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code.

Hobbico bankruptcy

svt923 is offline. Old FYI Hobbico has filed for bankruptcy and the Hobbico drone I had, the app was removed from the App Store. Not sure about this one. 5.

HOBBICO, WHICH OWNS REVELL filed for bankruptcy early in 2018. So what is happening with the Hobbico plastic kit brands?

2016-05-10

Hobbico, one of the largest distributors of Radio Control products in the United States filed for Chapter 11 bankruptcy protection on January 10, 2018. According to the petition, company leaders cited changing conditions in the industry and an inability of the company to service its debt as reasons for seeking protection. Lots of conjecture on the forums about the future of Estes and the Hobbico bankruptcy. Some of this below relates to how many trademarks names Estes owns.

Here’s some key events that triggered the Hobbico bankruptcy announcement: Team Durango – Although Hobbico didn’t officially announce the shut down of the racing brand, Team Durango until August Traxxas/Hobbico Lawsuit – In August of 2016, Traxxas filed a lawsuit against Hobbico and Arrma/Durango

They owe money to hundreds of companies.

On April 13th, Horizon Hobby acquired control of most Hobbico RC brands & IP (excepting Great Planes Manufacturing). Also on Monday, a bankruptcy judge approved a separate $7 million sale of Hobbico’s Colorado-based model-rocket subsidiary, Estes, to an organization called The Langford Group. An auction for Hobbico’s remaining assets — including United Model, Revell US and Revell Germany — was temporarily suspended last week. Hobbico is asking a bankruptcy court judge for approval to convert the case from Chapter 11 to Chapter 7. When Horizon bought Hobbico, it said the Hobbico name might fade away, and indeed, it already has. The website hobbico.com redirects to Horizon's website, where a note welcomes Hobbico customers.
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chapter 11 case no. 18-10055 (kg) jointly administered notice of auction date, sale hearing, and certain related deadlines related to the global revell lot, the revell germany lot and any non-conforming lots or remnant assets Hobbico intends to use the bankruptcy filing and possible sale of the business to reduce debt, restructure liabilities, attract new capital investment and position the company for future growth. The filing and potential sale also aim to preserve Hobbico’s industry-leading business, including allowing the Company to invest in new products and continue supporting all of its customers and Hobbico files for bankruptcy. Share. Share with: Link: Copy link.

More articles by Derek Buono » Written by: Derek Buono 2018-01-10 Hobbico, Inc. Files Petition for Chapter 11 Relief and Pursues Sale of Company CHAMPAIGN, Illinois. – January 10, 2018 – Hobbico, Inc. ("Hobbico" or "the Company") announced today that it has filed a petition for relief under Chapter 11 of the United States Bankruptcy Code while it seeks an orderly finalization and implementation of its comprehensive restructuring plan.
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Hobbico, Inc. Files Petition for Chapter 11 Relief and Pursues Sale of Company CHAMPAIGN, Illinois. – January 10, 2018 – Hobbico, Inc. ("Hobbico" or "the Company") announced today that it has filed a petition for relief under Chapter 11 of the United States Bankruptcy Code while it seeks an orderly finalization and implementation of its comprehensive restructuring plan.

Model Minutes Leduc 22 Build, Part 11, Nose Section; Model Minutes Leduc 22 Build, Part 10, Launch Lug; Model Minutes Leduc 22 Build, Part 9, Cockpit Seat; The 10X Inflation Factor; Just What You Need - Big Bag Of Plugs! Model Minutes Leduc 22 Build, Part 8, Rear Fins; Launch! Orlando R.O.C.K., January 6, 2018 in the united states bankruptcy court for the district of delaware in re: hobbico, inc., et al.,1 debtors. chapter 11 case no. 18-10055 (kg) jointly administered notice of auction date, sale hearing, and certain related deadlines related to the global revell lot, the revell germany lot and any non-conforming lots or remnant assets Hobbico intends to use the bankruptcy filing and possible sale of the business to reduce debt, restructure liabilities, attract new capital investment and position the company for future growth. The filing and potential sale also aim to preserve Hobbico’s industry-leading business, including allowing the Company to invest in new products and continue supporting all of its customers and Hobbico files for bankruptcy. Share.