A well known hobby company in Champaign has filed for bankruptcy. Executive Director for the Champaign County Economic Development Corporation Craig Rost says Hobbico filed for Chapter 11 Bankruptcy. Rost says he's not why the company filed for bankruptcy, but it could result in hundreds of layoffs. Rost says at this time, no official layoffs have been announced. According to its website, Hobbico is the largest U.S. distributor of radio controlled hobby products like drones. News Watch contacted the company, we are waiting for a response.
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