Hobby Co. Hits Ch. 11 Citing Bad Decisions, Market Shifts

Law360, Wilmington (January 10, 2018, 9:14 PM EST) -- A large distributor of remote-controlled models and other hobby products filed for Chapter 11 protection Wednesday in Delaware, saying a string of poor business decisions and market shifts led to revenue losses and left the company unable to make payments on its debt load.

Hobbico Inc.’s president said in a statement Wednesday that the business failed to adapt its e-commerce platforms and continue innovation in key product lines, leading to reduced sales and a strain on Hobbico's ability to pay down substantial secured debt incurred in...
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