The bankruptcy of Hobbico has led to Revell’s assets being bought by a German investment group, listed in court documents as Blitz 18-313. It is based near Munich. Blitz also bought Hobbico Germany. The sale was approved by a U.S. bankruptcy court Friday, April 13. Sale price was $3.9 million with several contingencies that could raise or lower the sum. Hobbico, based in Illinois, had owned Revell and was forced to sell it due to its bankruptcy.
Here’s what we know about the sale. No official announcement has come from Blitz. Our information comes from court documents and other industry sources. Click here for more info.
Now, this post came in early this morning on Facebook from UP Scale Hobbies:
It is a sad time for the model building community… I have not seen anything “official” from Revell, but It has been confirmed to me by a reliable source that Revell USA has in fact closed their doors. Our thoughts and Prayers go out to all of the families that are affected due to the loss of a job/income and I hope they are able to find work quickly.
From what I understand the new company has retained all rights to the molds, so how these kits will be distributed in the future is anyone’s guess. Rest assured Up Scale Hobbies will not be price gouging any remaining or future Revell USA kits. I will continue to offer the same discounts that have have for the last 12 months.
I will be placing a large order of Revell kits over the next 2 weeks and if you are looking for a specific kit that has not been discontinued and let me know and I will be happy to see if it is still available and order it for you.
