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HORIZON SUBMITS BID TO BUY HOBBICO!

HORIZON SUBMITS BID TO BUY HOBBICO!

UPDATE AS OF 4-3-18 

Message from Hobbico:

“We are excited to share with you that the RC brands from Hobbico that you have come to rely on over the years will continue. The Bankruptcy Court has approved the sale of Hobbico’s RC business to Horizon Hobby, LLC. Horizon Hobby has been in business since 1985 and serves customers in the United States and around the World. Horizon Hobby also maintains a strong online presence and warmly welcomes Hobbico customers to its growing family. With this acquisition, Horizon Hobby looks to build upon Hobbico’s great reputation for providing quality RC products to customers across the country. More information about Horizon Hobby can be found at https://www.HorizonHobby.com.”

 

There is light at the end of the proverbial tunnel for Hobbico and company! Today was the last official day to submit a bid for the RC Giant known as Hobbico according to Bankruptcy court fillings filled in Delaware under case 18-10055. We have just heard news that Horizon Hobby the other name that drives this amazing hobby to new heights has just submitted a bid to purchase assets from Hobbico. Although the details are still not entirely complete it looks like this offers what ever it my be, a glimmer oh hope the entire industry has been praying for. We for one are extremely excited to hear this news and we know that the hundreds of employees and the hundreds of thousands of RC fans out there will also support this bid! We implore you to support Horizon Hobby in this decision because if it wasn’t for bold moves like this then someday this great hobby we all know and love may no longer be here!

 

 

Stay tuned to RCHUB.com for all the latest on this moving forward!

 

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2 Comments

  1. Russ Taylor

    Before you get all excited, it ought to be obvious that Horizon is most interested in the Tower and Great Planes brand names. Horizon already has retail and dealer operations and they aren’t going to keep the Tower and GP sales units going as separate entities. Expect that there will be significant consolidation of operations, brands and product lines. Remember that Hobbico was losing money and it wouldn’t make sense to keep things going as they were. It is not clear that the purchase includes the Hobbico warehouse and hq building in Champaign. Horizon will likely want to consolidate everything in one location to reduce overhead costs. There will almost certainly be a significant number of layoffs from Hobbico.

    Reply
    • RC HUB Staff

      In any Bankruptcy/merger/buyout scenario, it will never perfect. There will be lost brands, products, services and the biggest casualty will always be the employees. What Horizon’s bid does is present some hope!

      Reply

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