Model Boat Mayhem
Mess Deck: General Section => Chit-Chat => Topic started by: tony52 on January 12, 2018, 09:25:24 am
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Hobbico who are the owner of plastic kit manufacturers Revell (Germany and US), Italeri, Hasegawa and Monogram have filed for Bankruptcy.
Click on the 'Our Brands' tab in the link, then 'Explore our Brands'. Looking further a couple of others, Futaba is under 'Radios' and Aquacraft under 'Boats'.
https://www.hobbico.com/company-news.php (https://www.hobbico.com/company-news.php)
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More detail about the brands
https://www.hobbico.com/brands.php (https://www.hobbico.com/brands.php)
Got to go digging to see if "own brand" or just distributor
https://www.hobbico.com/who.php
C-3PO
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Chapter 11 is not quite the same as bankruptcy. It actually protects them from creditors and gives them the opportunity to continue trading while trying to sell or find finance.
Barrie
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As far as I can discover, Hobbico do not "own" the brands you mentioned, but are the USA and Canada distributors for them. I am open to correction.
Peter.
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As far as I can discover, Hobbico do not "own" the brands you mentioned, but are the USA and Canada distributors for them. I am open to correction.
Peter.
please see C-3po's second link:
https://www.hobbico.com/who.php
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Thank you tsenecal :-)) I notice that Revell was purchased by Hobbico in 2007, and Great Planes have been part of that company for much longer than that. I have dealt with Tower Hobbies for many years, and knew of the connection with Great Planes. However, as far as I can discover, Hasegawa, Italeri and Monogram are independently owned companies with no connection to Hobbico beyond the distributorship. As before, I am open to correction.
Peter.
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please see C-3po's second link:
https://www.hobbico.com/who.php
That link 'corrects' the brands ownership error referred to.
What is not clear is why are they in difficulty. Being 100% employee owned and with such large distribution etc they should be able to turn it around and re-organise????
As stated in the link Hobbico sells to 'us' via Tower Hobbies, good range, well priced, etc??????
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History will confirm that [some] far sighted Business owners......[time & time again] lessen their financial load by offering an employee buy in..........
Yes...all is rosy %) and all are happy :kiss: until the penny drops <*< [in this case, the cumulative direct result of the internet & direct purchasing]
Not suggesting for one moment that this is the case at Hobbico.............however it happens [/time]
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You're quite right Derek, but in the case of Tower Hobbies, it is a mail order and internet based company selling Hobbico products direct to consumers, making its problems even more puzzling.
Peter.
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a few things i can bring light to:
1) Revell and Monogram are basically the same company... they merged in 1986 and are formally known as Revell-Monogram Inc.
2) it appears that most of tower hobbies financial problems started when a well known r/c car manufacturer sued them (as well as others) for patent infringement. Many deep in the r/c car world feel the lawsuits were unjust, and that the car manufacturer should never have received those patents.... I am not 100% clear on the patents, or whether the r/c car company should have them, so i am not naming names.