Last week, we reported that Horizon Hobby had was set to make a bid on several of Hobbico’s assets, including Great Planes, Axial and Tower Hobbies with a combined value of $18.8 million. To read our full story on this, click here. A couple of days this was made official as a bankruptcy court judge approved the purchase of Hobbico’s business.
For Hobbico’s approximately 340 staff members to work for Horizon Hobby they will need to reapply for their jobs. Hobbico’s human resources manager wrote in an email to staff, saying “As mentioned in yesterday’s Town Hall Meetings, Hobbico employees who are interested in being considered to work at Horizon Hobby are required to apply online”.
In the email to staff, the human resource manager outlines “Due to time constraints with hiring/reviewing/interviewing 300+ employees, Express Employment is assisting Horizon with the recruitment process,” She added “Employees who are selected to work in the Distribution Center could start on Saturday, April 7th through Express Employment.”
While this occurred, the bankruptcy judge also approved a separate sale of Hobbico’s brand Estes, for $7 million to The Langford Group. The remainder of Hobbico’s assets, including United Model, Revell US, and Germany, was also set to be auctioned off before it was temporarily suspended last week.