Hobbico - BANKRUPT!

[SfanGoch]

There might be a burgeoning market for novelty planters shaped like model car toolings. Think about how Chia Heads were the only players in town at one time.

[Brett Barrow]

13 minutes ago, Richard Bartrop said:

But I think we can safely assume they didn't pick up all those Revell USA moulds because they wanted some novelty planters.

Well, of the $3.9 million purchase, $3 million was just for the stock-on-hand kits already in Illinois. The molds were only $50,000.   

[SfanGoch]

Considering the number of molds Revellogram possessed, that is quite the bargain.

Edited April 19, 2018 by SfanGoch

[Richard Bartrop]

42 minutes ago, Brett Barrow said:

Well, of the $3.9 million purchase, $3 million was just for the stock-on-hand kits already in Illinois. The molds were only $50,000.   

Tell you what, when they show off their new novelty planters, feel free to point out how wrong I was.

[David]

I wonder how many molds are accessible and how many are overseas where they may be difficult if not impossible to recover.  Perhaps that is why the amount paid for the molds was so low.

Edited April 19, 2018 by David

[niteowl7710]

Unless something pops up in the filings in Monday (there were some random financial paperwork filed on Friday for staffing and monthly operating expenses) there were no objections to the Revell sale filed before yesterday's deadline. So the next date to watch will be the closing of the sale on May 8th.

[bobthehobbyguy]

Until May 8 nothing is going to happen until ownership changes. No sense for the new owners to do anything until they actually own Revell.  Hopefully then will have have a better idea of what is planned.

[lordairgtar]

On 4/19/2018 at 12:25 AM, Dave Ambrose said:

I think it's safe to say that continental private equity firms are different from their Anglo/American counterparts. 

That's what these companies are supposed to do. 

I'm going to guess that there will be changes, but it seems like the continental equity companies are indeed in business to make money rather than bleed the cash, and stiff the suppliers like the American companies do. 

 

 

 

Oh, you mean like Daimler Benz did to Chrysler?

 

[Luc Janssens]

33 minutes ago, lordairgtar said:

Oh, you mean like Daimler Benz did to Chrysler?

 

Thought Daimler Benz was a automotive company...must have been mistaken 

[lordairgtar]

1 minute ago, Luc Janssens said:

Thought Daimler Benz was a automotive company...must have been mistaken 

True, but they did not do any favors to Chrysler.

 

[Luc Janssens]

12 minutes ago, lordairgtar said:

True, but they did not do any favors to Chrysler.

 

Well the American managers who worked out the deal, took their money and ran...I don't see them getting the blame?!

The implosion of Revell was all Hobbico, also a foreign company?....

Please stop this nonsense, there's enough BLAH_BLAH_BLAH_BLAH in this world already

Edited April 21, 2018 by Luc Janssens

[1930fordpickup]

3 minutes ago, lordairgtar said:

True, but they did not do any favors to Chrysler.

 

That is true. They did take the burden of a cash reserve they had sitting away. 

Yes Luc you are correct , the blame is all on management, in all most all of these cases. 

[Rodent]

1 hour ago, lordairgtar said:

True, but they did not do any favors to Chrysler.

 

You guys are forgetting that Daimler sold Chrysler to Cerberus Capital.

[Joe Handley]

24 minutes ago, Rodent said:

You guys are forgetting that Daimler sold Chrysler to Cerberus Capital.

After Daimler got done with their pillaging of the company.

Edited April 21, 2018 by Joe Handley

[Rodent]

I don't want to go off road with the  Revell thread, but remember that the  Challenger,  Charger,  300, and Grand Cherokee all have Mercedes architecture underneath.

 

 

[mikemodeler]

13 hours ago, Rodent said:

I don't want to go off road with the  Revell thread....

 

 

too late, someone else beat you to that several pages ago.

[SfanGoch]

[High octane]

In the meantime, I'll just work on the Revell, AMT, MPC, Modelhaus, Model King, ESCI, Testors, and JoHan kits that I already have.

[GaryR]

I think there's a lot of wienerschnitzel being slung here.

If Revell Germany is going to stay in the plastic model business, why wouldn't they just produce from the molds they just purchased?

AMT models, Lindberg models, even old Hawk models  are still being made, even though the parent company went belly up.

Companies fail for many reasons, mostly from poor management, not lack of sales.

I think we will see Revell models back on the shelves AND new tools before long.

Maybe higher prices, but not much.

Modelers DO love drama!

 

[SfanGoch]

I'm a film noir fan myself.

[mikemodeler]

On 4/21/2018 at 10:53 AM, bobthehobbyguy said:

Until May 8 nothing is going to happen until ownership changes. No sense for the new owners to do anything until they actually own Revell.  Hopefully then will have have a better idea of what is planned.

I agree, but maybe a little more speculating and dire forecasts for the demise of Revell is just what we need. I mean, why bother building kits and posting stuff here relative to the hobby that is positive when one can predict the future based on whatever "knowledge" they may possess?

[niteowl7710]

2 hours ago, mikemodeler said:

I agree, but maybe a little more speculating and dire forecasts for the demise of Revell is just what we need. I mean, why bother building kits and posting stuff here relative to the hobby that is positive when one can predict the future based on whatever "knowledge" they may possess?

Well as is the often repeated refrain around here - Nobody is making you read this thread.

[GaryR]

5 hours ago, mikemodeler said:

I agree, but maybe a little more speculating and dire forecasts for the demise of Revell is just what we need. I mean, why bother building kits and posting stuff here relative to the hobby that is positive when one can predict the future based on whatever "knowledge" they may possess?

I agree.Yeah, nobody is making anybody read the thread.That's obvious, don't know what the point of saying that is.We CAN have different points of views you know. Seems like the negative gloomy view is always popular, unless you think modeling is just OVER as a hobby, I don't get that.

 

[Rob Hall]

Without anything factual from the new owners, though, anything posted here is just pointless speculation.   it's best to wait and see what they announce.

Edited April 24, 2018 by Rob Hall

[mikemodeler]

1 minute ago, Rob Hall said:

Without anything factual from the new owners, though, anything posted here is just pointless speculation.   it's best to wait and see what they announce.

My point exactly.

 

Apparently my thinly veiled sarcasm was taken seriously.