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In a bit of bad news we did not need, one of the hobby industry’s biggest players is filing for bankruptcy protection as it looks to refinance or sell the company. A major presence in the hobby drone market, Hobbico filed a petition for relief under Chapter 11 of the United States Bankruptcy Code while it ‘seeks an orderly finalization and implementation of its comprehensive restructuring plan.’ The petition was filed Wednesday with the United States Bankruptcy Court – Wilmington of Delaware. In conjunction, Hobbico also announced its plan to sell the company. Ryze Tech, a drone start-up, has completed development of its first intelligent toy drone called the Tello, a