Hobbico, Inc. , a Chicago-based distributor of radio-control and general hobby products, along with seven of its affiliates, has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-10055). The Debtors estimate their assets to be between $10,000,0001-$50 million and their liabilities to be between $100,000,001-$500 million. The board resolutions filed with the petition indicate that the Debtors plan to propose JND Corporate Restructuring as their notice and claims agent. No First Day Declaration has been filed at the time of publication. The cases have been assigned to the Honorable Kevin Gross.
Contact Norman L. Pernick or Nicholas J. Brannick for more information regarding this matter. Please note, however, that Cole Schotz P.C. does not represent the debtors in these cases and cannot respond to questions directed toward the debtors.