SEARCH FINESCALE.COM

Enter keywords or a search phrase below:

Portions of Hobbico are getting bought up, but not Revell

3007 views
29 replies
1 rating 2 rating 3 rating 4 rating 5 rating
  • Member since
    July, 2003
  • From: Cincinnati, Ohio
Portions of Hobbico are getting bought up, but not Revell
Posted by ridleusmc on Tuesday, April 03, 2018 4:32 PM

Hello Everybody,

This article explains that portions of Hobbico are being bought up by Horizon and other companies.  Some of the Hobbico employees may be able to continue to work at Horizon.  The article does mention that Revell USA and Revell Germany have yet to be sold.  What are your thoughts?

http://www.news-gazette.com/news/local/2018-04-03/bankruptcy-judge-oks-horizons-purchase-hobbicos-rc-business.html

-Chris

  • Member since
    August, 2014
  • From: Willamette Valley, Oregon
Posted by goldhammer on Tuesday, April 03, 2018 5:54 PM

Since quite a bit of their stuff is molded in China, I figure the outfit doing their molding is holding out for the fire sale, and going to pick it up for less than .50  on the $

  • Member since
    August, 2005
  • From: Mansfield, TX
Posted by EdGrune on Tuesday, April 03, 2018 6:10 PM

Notice has been filed that the Global Revell lot (i.e. Revell USA) and the Revell Germany lot along with other non-conforming lots will be sold on 10 April

http://upshotservices.s3.amazonaws.com/files/ff11e972-f6c7-458c-a00b-05e14958d7f7/21835f04-3653-414a-91c6-bcbd55292030.pdf

This lends more credence that a bidding group called Round3 LLC entered a bid for all or part of the model business on 28 March, when the RC and Estes rocket units were sold.  The bid did not match the 'stalking horse' value placed by the debtors on these lots.  Who is Round3?  I think it may be a joint venture of Round2 and other parties

If you read through the tables of assets and liabilities,  the tooling is identified but not as individual items.  Also listed as assets are the Revell trademarks and the copyright to the models.   Chinese molding companies are listed as creditors.  Also listed as creditors are various license holders; NASCAR, Ford, Daimler, Lockheed-Martin, Ed Roth estate, Wright Brothers estate, and others.  The molding companies cannot just hold onto the molding dies and start producing models.  They are going to have to go  through the court and obtain the intellectual property rights, trademarks and copyright (especially where you're talking about industrial entities).. 

 

 

  • Member since
    August, 2015
  • From: the redlands Fl
Posted by crown r n7 on Tuesday, April 03, 2018 7:37 PM

Interesting 

  

 Nick.

  • Member since
    November, 2009
  • From: Twin Cities of Minnesota
Posted by Don Stauffer on Wednesday, April 04, 2018 9:48 AM

First Monogram, now Revell.  Soon there won't be any American kit companies. It will be like trying to buy an American-made tv these days.

I have built both Monogram and Revell kits for decades.  Sorry to see them go.

As an aside, does anyone remember Scientific?  In the last couple of Micro Mark flyers, there is an explanation that MM is the survivor of the old Scientific.  I sure remember them- my first ship models were from Scientific.

 

Don Stauffer in Minnesota

  • Member since
    January, 2013
Posted by BlackSheepTwoOneFour on Wednesday, April 04, 2018 9:48 AM

goldhammer

Since quite a bit of their stuff is molded in China, I figure the outfit doing their molding is holding out for the fire sale, and going to pick it up for less than .50  on the $

 

Since some of the stuff is molded in China, watch how much tarriff China will slap on the products. I see a huge jump in prices in model kits from the molds itself. Wait and see....

  • Member since
    June, 2014
  • From: New Braunfels , Texas
Posted by Tanker - Builder on Wednesday, April 04, 2018 10:20 AM

Gee Don ;

 I wonder if anyone remembers them . I still have two Scientific ships in the Box .The Monster 1/96 Freighter and a Bluenose solid hull .

  • Member since
    November, 2003
  • From: State of Mississippi. State motto: Virtute et armis (By valor and arms)
Posted by mississippivol on Wednesday, April 04, 2018 10:23 AM
Watch the feeding frenzy on white boxes begin.
  • Member since
    September, 2006
  • From: Bethlehem PA
Posted by the Baron on Wednesday, April 04, 2018 12:39 PM

Don Stauffer

First Monogram, now Revell.  Soon there won't be any American kit companies. It will be like trying to buy an American-made tv these days...

Well, Monogram is still here, it's part of the company that calls itself "Revell."  You can make an argument that when Oddessy Partners merged the two companies, Revell disappeared in all but name.  The operations in California were shut down, and the new merged company operated from Monogram's facilities in Illinois.  But it was decided to use the Revell brand, because it had recognition outside the US.

Regarding this whole Hobbico issue, I'm not worried.  I think Revell will emerge from this this, in some form.

Meanwhile, Airfix is still in the same boat vis-a-vis its parent, Hornby, who face bankrupcty.

I think these companies have the problems they have because they expanded too fast and took on too much debt, not because of any problems with our hobby.

The bigger the government, the smaller the citizen.

 

http://img.photobucket.com/albums/v233/HansvonHammer/Humor/th_MonogramMafia.jpg?t=1296972087~original

  • Member since
    August, 2014
  • From: Willamette Valley, Oregon
Posted by goldhammer on Wednesday, April 04, 2018 1:03 PM

BlackSheepTwoOneFour
 
goldhammer

Since quite a bit of their stuff is molded in China, I figure the outfit doing their molding is holding out for the fire sale, and going to pick it up for less than .50  on the $

 

 

 

Since some of the stuff is molded in China, watch how much tarriff China will slap on the products. I see a huge jump in prices in model kits from the molds itself. Wait and see....

 

Won't be China sticking tarriffs on it....Would be the US since it is being imported here from China, and not just any Revell stuff.  All of them.  If the US wants to get that far down the food chain with them.

  • Member since
    November, 2009
  • From: Twin Cities of Minnesota
Posted by Don Stauffer on Thursday, April 05, 2018 8:31 AM

Isn't there a big difference in tariffs if the product is a finished product to be sold retail versus a subcontracted part used for a product?

Don Stauffer in Minnesota

  • Member since
    August, 2005
  • From: Mansfield, TX
Posted by EdGrune on Thursday, April 05, 2018 9:39 AM

goldhammer

Since quite a bit of their stuff is molded in China, I figure the outfit doing their molding is holding out for the fire sale, and going to pick it up for less than .50  on the $

 

 
If you look at the list of claims against the whole of Hobbico (as of 01-APR-2018), China is not the major claimant country:
China  4 claims totalling $117,000
Hong Kong 2 claims for $25,000.
Taiwan 4 claims totalling $77,000   (I know Taiwan is not China, but it fits here).
 
 
By far, the largest claim is from Japan, all from Hasegawa, for over $4M.
 
One Canadian firm claims $5000.  The remainder of the claimants are US based.
 
The bulk of the claims appear to be for packaging, logistics and services.   They owe the good folks here at Kalmbach $215.83
  • Member since
    July, 2014
  • From: Meridian, ID
Posted by modelcrazy on Thursday, April 05, 2018 12:55 PM

I can't see Revell or whatever it becomes going away from the scene. Their inexpensive (relatively) kits are a mainstay for beginners. Other than Linberg and a few others, that niche will be missing.

I could be wrong though.

Steve

ON THE BENCH

1/48 Tamiya Mk.1 Swordfish
1/350 Tamiya Prince of Wales
1/200 AMT Man in Space Rocket Collection

In Que

1/700 Tamiya King George V

  • Member since
    July, 2003
  • From: Cincinnati, Ohio
Posted by ridleusmc on Friday, April 06, 2018 8:27 PM

EdGrune

 

 
 They owe the good folks here at Kalmbach $215.83
 

"New Product Rundown"  

  • Member since
    May, 2017
  • From: ohio I want to leave
Posted by armor 2.0 on Saturday, April 07, 2018 10:23 AM

I will by Revell and all the molds double the price of kits because I'll be adding a bunch of unnecessary parts to the kits that way I'll be like dragon more pieces more money. Bid submitted yea right

 

  • Member since
    December, 2002
  • From: Fort Knox
Posted by Rob Gronovius on Sunday, April 08, 2018 8:46 PM
I agree with the Baron, that Monogram disappeared in name only and Revell in Cali was the company that truly vanished.
  • Member since
    September, 2005
  • From: North Pole, Alaska
Posted by richs26 on Sunday, April 08, 2018 11:20 PM

Tuesday will be the reckoning day for RM-USA and RoG so buckle up for the ride.

WIP:  Monogram 1/72 B-26 (Snaptite) as 73rd BS B-26, 40-1408, torpedo bomber attempt on Ryujo

Monogram 1/72 B-26 (Snaptite) as 22nd BG B-26, 7-Mile Drome, New Guinea

Minicraft 1/72 B-24D as LB-30, AL-613, "Tough Boy", 28th Composite Group

  • Member since
    September, 2006
  • From: Bethlehem PA
Posted by the Baron on Monday, April 09, 2018 12:19 PM

modelcrazy

I can't see Revell or whatever it becomes going away from the scene. Their inexpensive (relatively) kits are a mainstay for beginners. Other than Linberg and a few others, that niche will be missing.

I could be wrong though.

 
I agree.  I don't think Hobbico's woes mean the end of Revell, or any other of Hobbico's subsidiaries, and I agree with you about Revell's market.

The bigger the government, the smaller the citizen.

 

http://img.photobucket.com/albums/v233/HansvonHammer/Humor/th_MonogramMafia.jpg?t=1296972087~original

  • Member since
    November, 2003
  • From: State of Mississippi. State motto: Virtute et armis (By valor and arms)
Posted by mississippivol on Monday, April 09, 2018 3:52 PM

richs26

Tuesday will be the reckoning day for RM-USA and RoG so buckle up for the ride.

 

Crossing my fingers....

  • Member since
    July, 2013
Posted by modelmaker66 on Monday, April 09, 2018 10:53 PM

The issue is not the company or what it has to offer, it is that you buy the debt with company. Now 4-5 million on top of the asking price? The value is significantly lowered with that. Who would buy them with your foot in a 5 million dollar bucket to start off with. It doesn't seem a shrewd business move.

  • Member since
    May, 2017
  • From: ohio I want to leave
Posted by armor 2.0 on Tuesday, April 10, 2018 1:23 PM

Has anyone heard of revell fate yet

  • Member since
    August, 2014
  • From: Willamette Valley, Oregon
Posted by goldhammer on Tuesday, April 10, 2018 1:34 PM

modelmaker66

The issue is not the company or what it has to offer, it is that you buy the debt with company. Now 4-5 million on top of the asking price? The value is significantly lowered with that. Who would buy them with your foot in a 5 million dollar bucket to start off with. It doesn't seem a shrewd business move.

 

Suspect in a fire sale, most of that debt is going to be written off as the creditors won't see much return on the $

  • Member since
    August, 2005
  • From: Mansfield, TX
Posted by EdGrune on Tuesday, April 10, 2018 2:26 PM

armor 2.0

Has anyone heard of revell fate yet

 

 

http://upshotservices.s3.amazonaws.com/files/ff11e972-f6c7-458c-a00b-05e14958d7f7/4e54da80-4526-4b73-8c41-f41ed9ec0f2f.pdf

and 

http://upshotservices.s3.amazonaws.com/files/ff11e972-f6c7-458c-a00b-05e14958d7f7/d755cb4a-0d30-4457-8c13-e3918aeb4b83.pdf

The meeting scheduled for 10 oclock on 10-April has been postponed to 2:00  on 13-April.   There are multiple objections filed to the sale,  Traxxas. GM, Ford, Lockheed, etc.

  • Member since
    July, 2003
  • From: Cincinnati, Ohio
Posted by ridleusmc on Wednesday, April 11, 2018 4:16 PM

^^^ Yikes Yikes!^^^
Legal paperwork!  I guess there are a whole lot of copyright protection agreements and license agreements that need to be worked out.

   

  • Member since
    July, 2013
Posted by modelmaker66 on Wednesday, April 11, 2018 10:55 PM

They are all owed $$$$$.

  • Member since
    November, 2009
  • From: Twin Cities of Minnesota
Posted by Don Stauffer on Thursday, April 12, 2018 8:33 AM

I could never figure out these licensing agreements.  My understanding of copyright and patent agreements is that they are to prevent someone buying a fake article, or in the creator not getting proper credit.  But when someone buys a model of something, how in the world could they believe they are buying the real product?

And in terms of patenting most designs, like a whole airplane or a whole car, my belief is that this is meaningless.  A  patent is to protect a new and innovative technology or technique.  A patent that protects a part of a vehicle, or some unique aspect of the design, is legit, not the whole thing.  Airplanes and cars have been around for a century!  Besides, with military aircraft, the taxpayers really paid for its creation.

I'd like to see more big money plantiffs (if there are any) challenge more of those protections.

 

Don Stauffer in Minnesota

  • Member since
    July, 2014
  • From: Meridian, ID
Posted by modelcrazy on Thursday, April 12, 2018 6:12 PM

Ok, so I'm not real good with leaglese but does this mean this Blitz company is buying?

Steve

ON THE BENCH

1/48 Tamiya Mk.1 Swordfish
1/350 Tamiya Prince of Wales
1/200 AMT Man in Space Rocket Collection

In Que

1/700 Tamiya King George V

  • Member since
    August, 2014
  • From: Willamette Valley, Oregon
Posted by goldhammer on Thursday, April 12, 2018 6:43 PM

Yep, one thought is, it's the managing director's of RoG.  3.9 mil, nice fire sale for both.

 

**EDIT**  looks like it may be a financial company that turns distressed companies around, so will have to wait and see what the  future holds for them.

  • Member since
    July, 2003
  • From: Cincinnati, Ohio
Posted by ridleusmc on Friday, April 13, 2018 3:26 PM

I did a quick google search for Blitz 18-313GmbH.  There wasn't much info available, but it looks like they became a registered company in Munich, Germany in January of this year.  I wonder if someone formed this company to buy Revell.  

JOIN OUR COMMUNITY!

Our community is FREE to join. To participate you must either login or register for an account.

SEARCH FORUMS

FREE NEWSLETTER
By signing up you may also receive reader surveys and occasional special offers. We do not sell, rent or trade our email lists. View our Privacy Policy.