Sad news from Hobbico, they have filled for bankruptcy . Among the companies under the Hobbico umbrella are Revell-Monogram company in the United States, and Revell of Germany in Europe
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. The petition was filed today with the United States Bankruptcy Court – Wilmington of Delaware In conjunction, Hobbico also announced its plan to sell the company.
Founded in 1985, Hobbico, Inc. is the largest U.S. distributor of radio-control and general hobby products. Hobbico is engaged in the design, manufacturing, marketing and distribution of thousands of hobby products including radio-control and general hobby products. The Company’s merchandise includes a wide variety of radio-control models from cars and boats to airplanes and drones. In the general hobby category, Hobbico offers plastic model kits, rockets, road race sets, die-cast models, model trains, jigsaw puzzles, science and educational kits, games, kites, craft kits and much more. Hobbico employs over 550 in facilities that include its West Coast distribution center in Reno, Nev., facilities in Penrose, Colo., and Elk Grove Village, Ill., Axial facilities in the United Kingdom and Germany, and its Corporate Headquarters in Champaign, Ill. The Company sells over 50,000 items through three sales divisions targeting Retail, Wholesale and Mass Market sales channels. For more information, visit www.hobbico.com.
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