Hobbico sees net loss widen to $4.98 million in April; sales decline

By Caroline Salls

Pittsburgh, June 13 – Hobbico Inc. reported a $4.98 million net loss for April on $2.6 million in sales, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

Those figures showed a decline from the $1.85 million net loss posted for March on $10.3 million in sales.

The company had $4.74 million in cash as of April 30.

Hobbico is a Champaign, Ill.-based designer, manufacturer and distributor of radio control and general hobby products. The company filed for bankruptcy on Jan. 10 under Chapter 11 case number 18-10055.

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