American Flyer train sets were created in 1907 by a Chicago…

American Flyer train sets were created in 1907 by a Chicago company, and in 1938 the business was sold to science kit and Erector creator A.C. Gilbert, which was seeking to expand its product line. American Flyer was seen as second behind Lionel in toy train production, and was on the train landscape until Gilbert discontinued the line in 1966 prior to their bankruptcy.

Bonus: Lionel bought the American Flyer name and product line for $150,000 after American Flyer folded, but then themselves filed bankruptcy 4 months later without ever being able to produce any products.