By Jonathan Randles | Bloomberg
ICON Aircraft Inc., a company that makes amphibious aircraft for recreational flying, has filed bankruptcy.
Vacaville, California-based ICON listed assets and liabilities of between $100 million and $500 million each in a Chapter 11 petition filed Thursday in the Delaware bankruptcy court.
ICON has explored a range of options for the company and could sell all or part of the business in Chapter 11 to repay creditors, according to court papers. The closely held company said it has explored other options, including licensing its intellectual property or a possible combination with a blank-check firm.
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Amphibious aircraft can take off and land on water or on ground. ICON’s A5 model is a small, lightweight aircraft that is designed to be operated relatively easily, company co-founder Kirk Hawkins told Bloomberg in 2015. The A5’s wings are designed to fold, making them convenient for transportation.
The case is ICON Aircraft Inc., number 24-10703, in the US Bankruptcy Court in District of Delaware (Wilmington).
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