Hobbico assets up for auction

Local News

CHAMPAIGN, Ill. (WCIA) — A local business which declared bankruptcy went up for auction Wednesday.

Hobbico was trying to auction off its assets. Those who were interested had the chance to put in a bid to buy all or part of the assets.

Horizon Hobby, LLC, a company which makes products similar to Hobbico, expressed interested in bidding. No word yet if there were any other bids.

A hearing takes place Monday to approve the sale to the winning bidder.

Another company, Traxxas, is also filing for relief to get back the money Hobbico owes it. That matter will also be decided Monday.

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