Four Bidders For Epic
The Chapter 11 bankruptcy of Epic Aircraft continues to wind its way through the courts and the next hearing is set for Dec. 7 in Portland. Spokesman Christopher Sanders told AVweb Tuesday there are four bidders vying to buy the company out of Chapter 11 bankruptcy including one established aircraft manufacturer. The names of the bidders are confidential for now but Sanders said at least two of them would be well known to those who follow aviation. There are currently 15 incomplete aircraft at the Bend, Oregon plant and Sanders said he's talking with all the owner/builders to try and ensure they can complete their projects. Epic sold a $1.8 million kit that produced a six place turboprop aircraft called the LT and the 15 unfinished aircraft are in varying stages of construction. Sanders said he was hired shortly after the departure of former CEO Rick Schramek and his role is to "maximize the value of the company and to make the company viable again."
The company ran into trouble earlier this year and the doors shut in August. By September, lawsuits were flying and the company was formally in Chapter 11. There have also been allegations of wrongdoing by some Epic executives but none have been proven in court.