Hobbico Bankruptcy and the Future for Revell

[SteelScooter]

I just saw in the news that Hobbico, the parent company for Revell, is filing for bankruptcy. I am hoping someone can buy Revell and sort the wheat from the chaff of their product line. Revell make some great kits but still sell some horrible old ones as well. Even so I hate to see any model company in trouble.

Who would you prefer to take over Revell? Maybe Humbrol who did a great job with ressurecting Airfix?

[DoubleDigit12]

Damn thats awful I love revell they are a historic company and have some real gems among the rest of the rubbish and I love their aqua colour paints and glue. Hope somebody like humbrol can keep them afloat it would be a real shame to see such a historic name gone.

[ForbesHutton]

I think it's the main company, Hobbico, as a distributor, that couldn't keep up with the digital times and lost out to the internet. They also own a couple of lines of RC equipment and there may have been too much overlap within their own lines. The individual companies (like Revell) that are viable will be bought up by other companies and either left as a stand alone division, or the product line will be folded into the buyer's catalog. As for the distribution side (in the US) other distributors will sign on the manufactures and things will continue. The real loss will be their Tower Hobby stores, I don't see anyone rushing to buy a retail business that competes with (and loses to) the internet as heavily as a hobby shop.
It is a reminder to all of us to support the local stores as much as possible, it many cost a couple of percent more, but it's worth it in the long run when you suddenly notice your out of glue or a paint you need and you can make a quick dash to the LHS, instead of waiting 2 or more weeks for your glue or paint to arrive (if it ever does...) from Hong Kong/China.

[GMahaffey]

Honestly, I believe that the Hobbico bankruptcy will have no real effect on the state of the hobby in the United States. It could but I believe it won't. The bankruptcy that they are filing is Chapter 11. From what I learned abut bankruptcy is that Chapter 11 is reorganization. The gist of the chapter is to allow the company to reorganize its debt so that it could stay open. They could settle the debt with their creditors so they could owe less, find new capital from new investors, or they could just sell the company outright. The last option is the option that could have an effect on the state of the hobby in the US.

[DrSprue]

I think it's the main company, Hobbico, as a distributor, that couldn't keep up with the digital times and lost out to the internet. They also own a couple of lines of RC equipment and there may have been too much overlap within their own lines. The individual companies (like Revell) that are viable will be bought up by other companies and either left as a stand alone division, or the product line will be folded into the buyer's catalog. As for the distribution side (in the US) other distributors will sign on the manufactures and things will continue. The real loss will be their Tower Hobby stores, I don't see anyone rushing to buy a retail business that competes with (and loses to) the internet as heavily as a hobby shop.
It is a reminder to all of us to support the local stores as much as possible, it many cost a couple of percent more, but it's worth it in the long run when you suddenly notice your out of glue or a paint you need and you can make a quick dash to the LHS, instead of waiting 2 or more weeks for your glue or paint to arrive (if it ever does...) from Hong Kong/China.

So true sir... Really, people that have LHS's also started this because they love this hobby, are privately owned by people in our towns, some friends and man... on that day you need some tet or a bottle of Tamy, they are (were) nearby. This is so sad when you think about it.

[colonelmustard]

I hope I am not starting a nasty rumour in saying this, but Humbrol... (the parent company of Airfix) are allegedly also in financial distress.

[sheppsea]

Hornby is the parent company , and from what I understand Airfix is still profitable, the issues are more with the model railway side of things (I am far from an expert though so don't take that as gospel )

Maybe it explains why the QC issue with the Sea Fury wasn't resolved before general release though? Pure speculation of course, but may be a factor