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Lledo was formed in 1982 by Jack O'Dell, co-founder of Matchbox, and Burt Russell. The first models appeared on the market in 1983 as the 'Days Gone' range, reminiscent of the Matchbox 'Models of Yesteryear', and made in England. The value of producing a wide range of variants in various liveries and in limited quantities was quickly realised, and an additional range of 'Lledo Promotionals' was launched. The company eventually became bankrupt in 1999 and the name and manufacturing rights were acquired by Corgi who continued production of Lledo models in China until 2005 when the last remaining models were absorbed into the Corgi Classics range.