Facility Locked, Assets Seized, CEO AWOL

High-performance kitplane manufacturer Epic Air is apparently out of business, after laying off most of its 160 person workforce over the first half of this year. According to "The Bulletin" of Bend, Oregon, where Epic is based, the landlord, ER1 LLC of Delaware, has seized Epic's building and it's contents, due to Epic being 20 days in default on its lease.

In addition, the paper reports that a lawsuit has been filed in Deschutes County Circuit Court against Epic's CEO, Rick Schramek, and others. Attempts to reach Schramek, General Manager Dave Hice, or their attorneys have been unsuccessful.

In a previous lawsuit, filed in U.S. District Court in Portland in June, Blue Sky Avgroup LLC owner Rich Lucibella sought emergency receivership on behalf of several Epic buyers whose planes were in various states of assembly in Oregon. Lucibella, who is based in Florida, told the paper he would like to take ownership of the company.

“Amongst us, our first efforts are going to be conserve the assets of this company because we believe the (Epic LT) is still a wonderful design, anyone in the general aviation community knows that, and after that, a way we can simultaneously keep this company going in Central Oregon and finish the planes,” Lucibella said.

Rick Schramek File Photo

Epic Air had received incentives totalling $1.3 million from the state and the county to locate in Bend.

FAA officials said they are interested in the matter, but have not opened an official investigation.

FMI: http://courts.oregon.gov/Deschutes/index.page, http://www.ord.uscourts.gov/