Hobbico currently owns both the Revell and RevellAG (Revell Germany) brands, Estes rockets, and a whole slew of RC companies. They are also the exclusive distributor for Hasegawa and Italeri in the U.S.
Hobbico filed for bankruptcy protection Wednesday, which could result in 332 layoffs at its Champaign facility.
In a statement, Hobbico said that it plans to sell the company and will continue operating throughout the bankruptcy process.
More information here: News-Gazette and company press release here: Hobbico.com
