27° F
Light Snow
Light Snow

Bidders expected for balloon company auction

By Adam Schrager,
Published On: Dec 24 2013 05:41:31 AM CST
Updated On: Sep 12 2013 09:27:28 AM CDT

Three or four bidders are expected to take part in the auction of balloons and equipment from the Great American Balloon Company Thursday morning, according to the trustee handling the auction. The company went out of business earlier this summer leaving several hundred consumers in Wisconsin, Illinois and Florida with unused tickets.

Prospective bidders were required to submit a 10 percent security deposit by 5 p.m. on Tuesday if they were interested in buying the six hot air balloons and their related materials.

The money raised from the auction could be used to reimburse consumers or creditors who paid the company between $175-$225 per ticket. The trustee handling the auction said the company sold at least $350,000 worth of tickets that were never used over the last couple of years.

There remain questions as to whether it's possible to raise enough funds during the auction to give consumers any kind of a refund.

"I never try to anticipate the outcome of an auction," wrote Alex Moglia, who runs Moglia Advisors, the company handling the auction, in an email to News 3. "We let the market speak as to what is the value of an asset. I would expect that if we are going to make a distribution to creditors, we will review claims for the next 30 days and possibly make a distribution 30 days after that."

Claims are required to be submitted to Moglia Advisors by 5 p.m. on Monday, Sept. 23. Consumers holding unused tickets should send an email to: in order to get the claim form necessary for any possible reimbursement.

The Great American Balloon Company served as the parent company for Sunbird Balloons, LLC, Token Creek Hot Air Balloon Company, LLC, Windy City Balloon Port, LLC, Sky Rides, LLC and Cloud 9 Balloon Port, LLC.

  • Time for Kids - Explore the Outdoors

    Dean Clinic and WISC-TV3 are focusing on a year-long campaign to get kids off their electronics and into the outdoors.

  • Learn more about WISC-TV

    Meet the News 3 staff, learn about our newscasts, search our job postings and find out how to contact us.

  • Chopper in Janesville

    Chopper in Janesville

    Your pet photos

    Email us a picture of you and your pet and we'll use it in out Pet Walk segment which airs every weekday morning at 6:40. Include your name, your pet's name and where you're from. Email to