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Hobbico/Revellogram News

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  • Member since
    September, 2005
  • From: North Pole, Alaska
Hobbico/Revellogram News
Posted by richs26 on Monday, March 26, 2018 9:42 PM

It doesn't look good for Hobbico as Revell's largest creditor is a Chinese company owed over $1 million which could be the one which does the moulding and has possession of the moulds.  This wouldn't be good for the modeling world. 

http://upshotservices.s3.amazonaws.com/files/ff11e972-f6c7-458c-a00b-05e14958d7f7/60b053f3-53c6-4714-99c4-389512ed2150.pdf

Revell DE owes the parent company $14 million, and Hobbico GMBH owes $26 million.

http://upshotservices.s3.amazonaws.com/files/ff11e972-f6c7-458c-a00b-05e14958d7f7/6d211b0f-041c-4525-9e96-80c01d54695b.pdf

The minimum bid for RoG is $8million, and for an extra $10 million, will throw in Revellogram USA.

http://www.jndla.com/cases/hobbico/docket%20no.%20243.pdf

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
    April, 2003
  • From: USA
Posted by keavdog on Monday, March 26, 2018 10:07 PM

Bummer.  What do you suppose is driving these issues?  Lack of interest, or quality kits coming out of the woodworks?  Both I suppose.

If I had the funds, would it make sense to buy?  Or are they making buggy whips....

Thanks,

John

  • Member since
    September, 2012
Posted by GMorrison on Monday, March 26, 2018 11:37 PM

$ 1 million is couch change these days.

Doubt its money, more like market.

Revell is doomed because their business model is new subjects, not the latest Tiger 1 subtitle 7, unknown french division, 1943, Whitmann's co fighters friend tank.

They made their name on the first Iowa Class, then BB 39, then Century jets. Stuff kids and their paarents could bond over.

  • Member since
    April, 2003
  • From: USA
Posted by keavdog on Monday, March 26, 2018 11:38 PM

I'd like to come over and sit and talk with you on your couch for a bit ;)

Thanks,

John

  • Member since
    March, 2018
Posted by VMA131Marine on Wednesday, March 28, 2018 1:26 PM

richs26
It doesn't look good for Hobbico as Revell's largest creditor is a Chinese company owed over $1 million which could be the one which does the moulding and has possession of the moulds.  This wouldn't be good for the modeling world.  http://upshotservices.s3.amazonaws.com/files/ff11e972-f6c7-458c-a00b-05e14958d7f7/60b053f3-53c6-4714-99c4-389512ed2150.pdf Revell DE owes the parent company $14 million, and Hobbico GMBH owes $26 million. http://upshotservices.s3.amazonaws.com/files/ff11e972-f6c7-458c-a00b-05e14958d7f7/6d211b0f-041c-4525-9e96-80c01d54695b.pdf The minimum bid for RoG is $8million, and for an extra $10 million, will throw in Revellogram USA. http://www.jndla.com/cases/hobbico/docket%20no.%20243.pdf

What's with people keep plagiarizing my Hyperscale post on this subject?

Here's a link to my original (complete with all the same links):

http://www.network54.com/Forum/149674/message/1522110299/Hobbico-Revell+news

Note that Hobbico is asking for $10 million for the combination of Revell DE and Revell USA not $18 million. Revell DE is worth substantially more than Revell USA.

  • Member since
    March, 2018
Posted by VMA131Marine on Thursday, March 29, 2018 4:39 PM

The notices of successful bids in the auction of Hobbico have been filed at 

http://www.jndla.com/cases/hobbico 

(Look under the docket section) 

The Hobbico RC business and Estes Rockets received successful bids, but no bids are recorded for Revell USA or Revell Germany. 
There was also an objection filed by Hobbico's creditors to the sale of the RC businesses. 

I can't help but see this as a bad thing for the future of both companies. It's clearly a step towards a straight liquidation of assets in which the survival of existing molds and 2018 release plans is no longer assured. 

We'll know more Monday, but with the sale of the largest part of Hobbico to Horizon. The ability of what remains to keep operating beyond the end of next week will be limited.

  • Member since
    August, 2014
  • From: Willamette Valley, Oregon
Posted by goldhammer on Thursday, March 29, 2018 5:13 PM

Have to wonder if one of the other model companies didn't bid on them, hoping to get a better deal in a liquidation fire sale.

If you've had an eye on any kits, might be an idea to grab them now, just incase it all goes south for good.

  • Member since
    March, 2018
Posted by VMA131Marine on Thursday, March 29, 2018 5:36 PM
I just don't know which company would have the resources.
  • Member since
    August, 2014
  • From: Willamette Valley, Oregon
Posted by goldhammer on Thursday, March 29, 2018 5:42 PM

I would guess one of the Chinese outfits, and if not outright, then with gov't backing....Gov't wouldn't blink at a mere 10M, and probably half or less in a fire sale.

  • Member since
    July, 2011
  • From: Armpit of NY
Posted by MJames70 on Thursday, March 29, 2018 5:43 PM

It's disappointing, but I stated before I would not be surprised if there was not much interest in R/M as a going concern - most of their stuff is just too old these days, and they are not a market force any longer. Those days have long passed. 

It's a shame a company like Round2 does not appear to have the assets to acquire them. They have done a very good job with the brands they've shepherded, like AMT. Money is tight there, though, and new releases are very occasional. Mostly just cleaned up and new decals for old kits. Which I think is the only way Revell/Monogram would have any value these days. 

  • Member since
    July, 2013
Posted by modelmaker66 on Thursday, March 29, 2018 11:56 PM

I had gotten shouted down a couple weeks ago saying that the end was nigh for Revell. I know that we all grew up on them and they were competitive in the 60's through the 80's but from then on almost every company has made better quality kits on new molds with better fit, more pieces and better subjects. I cannot think of a worse major manufacturer of kits today. That is essentially why they have been borrowing to stay afloat since Binney and Smith, the parent company of crayola at the time, purchased them in the late 80's and they still can't get past their issues. Repopping old molds from 40 years ago with an occasional new tool car or ship is not enough to be competitive. How many companies still lazily produce aircraft with raised panel lines? If hobbico sold the rc portion of their business then it is over for them. It was their core and revenue generator. The remainder can't sustain itself.

Revell and Revell Germany will be purchased pennies on the dollar and will exist in the future in some form no doubt. I hope the new owner will care enough to update the manufacturing and quality to be interesting and relevent.

  • Member since
    May, 2017
  • From: ohio I want to leave
Posted by armor 2.0 on Friday, March 30, 2018 7:57 AM

This is just my personal opinion that revell models are a perfectly good waste of plastic and cardboard.

  • Member since
    March, 2014
Posted by BarrettDuke on Friday, March 30, 2018 8:33 AM

It will be a shame to lose Revell models if that is what actually happens. I think Revell models and similar products are the entrypoint for most people who become serious about scale modeling. How many of you built a Revell model as a young boy? Even Tamiya models are too complex for most 9 or 10 year olds. Without Revell, there will be fewer entry level kit makers, which means there will ultimately be fewer experienced modelers who can one day talk about Revell in dismissive tones. And as the experienced modelers disappear, the expert level kit makers will also start to disappear because there won't be enough buyers for all their expensive kits and ancillary products. Right now, we're living in this unique moment when baby boomers who are returning to their love of scale models have the health, time, and money to spend $100 on a kit and even more on paints, washes, and tools. The generations coming up behind us will not have all this disposable wealth. If we have fewer 9 and 10 year old modelers, it will become even harder to maintain the upper end modeling business that we can afford in the future. The loss of Revell's distribution network alone could have a devastating impact on the future of our hobby. If we lose Revell, I hope someone else will have the courage to risk the ire of our snobbery and keep supplying kids with simple, inexact, and, therefore, inexpensive scale models. Those kids are the future of the hobby we love.

  • Member since
    November, 2009
  • From: Twin Cities of Minnesota
Posted by Don Stauffer on Friday, March 30, 2018 8:53 AM

To me, I believe the loss of Revell would be a loss to modelers of any experience.  I have been modeling for 73 years, and still build Revell's models.  I find their new-mold kits excellent and at bargain prices. I am building their Aerobatic Stearman, a marvelous kit.  I made some goofs as I am building one with some mods (making a Red Baron Pizza version), and have already ordered a replacement to do it right, using lessons I am learning from the first build.

Their recent KK Midget race car was also a beautiful kit. It failed in the marketplace due to lack of interest in vintage racing cars, nothing wrong with kit.  The kit, though, is not an entry level kit- it is tiny and lots of small delicate parts (with awesome detail).  I like that Revell will take a flyer now and then on an unusual subject, not just continue to turn out more versions of a 109.

 

Don Stauffer in Minnesota

  • Member since
    December, 2002
  • From: Bury St Edmunds, Suffolk, England
Posted by Bish on Friday, March 30, 2018 9:19 AM

I do hope RoG are able to keep going. Despite whats been said above, which seems to be aimed at Revell USA but seems to lump both labels in the same pot, RoG have certainly been producing stunning kits in the last few years. And those kits are often priced a lot lower than other brands but without loseing quality.

RoG is still a big brand this side of the pond, so ifs its true that its up for 8 million, hopefully someone in Europe wil snap it up.

''I am a Norfolk man, and i glory in being so''

On the bench:

  • Member since
    November, 2009
  • From: SW Virginia
Posted by Gamera on Friday, March 30, 2018 9:20 AM

And if I may point out Revell Germany is a totally different animal from Revell USA. Built their 1/72nd B-17G a few years ago and it's Hasegawa quality at less than half the price. I've heard the brand new Airfix 1/72nd B-17G is better but frankly it's a hard kit to top. I might have to pick up a few extra just in case... Whistling

I guess I'm a bit of a hypocrite in wanting to see Revell USA to stick around though because I haven't bought anything by them in years other than a few car kits for the nephew. Embarrassed

"I dream in fire but work in clay." -Arthur Machen

 

  • Member since
    March, 2014
Posted by BarrettDuke on Friday, March 30, 2018 9:35 AM

Gamera, There's no hypocrisy in wanting to build more accurate kits. You want a greater challenge. That's appropriate, IMHO. You honed your skills over many years to get to this point. You're doing what should be done when you buy your nephew a less complicated kit that he can learn on and not get so frustrated that he gives up on the hobby altogether. 

  • Member since
    April, 2015
Posted by Mopar Madness on Friday, March 30, 2018 10:08 AM

Bish

I do hope RoG are able to keep going. Despite whats been said above, which seems to be aimed at Revell USA but seems to lump both labels in the same pot, RoG have certainly been producing stunning kits in the last few years. And those kits are often priced a lot lower than other brands but without loseing quality.

RoG is still a big brand this side of the pond, so ifs its true that its up for 8 million, hopefully someone in Europe wil snap it up.

 

Agreed!  Their recent 1/32 offerings have been a tremendous bang for the buck.  Plus those blue boxes are very unique to RoG and really stand out on store shelves.  I really hope they weather the storm or someone can pick up this line and continue to provide great quality at low costs.

Chad

God, Family, Models...

At the plate: 1/72 Airfix Heinkel He111 H-6

On deck: 1/700 Trumpeter Graf Zeppelin

In the hole: 1/72 ICM FW 189A-1 

 

 

  • Member since
    July, 2014
  • From: Meridian, ID
Posted by modelcrazy on Friday, March 30, 2018 10:28 AM

I find ROG excellent. Their 1/72 armor is highly detailed with multiple parts and for the most part very accurate. Their 1/72 type VII and type IX U-boats are very enjoyable kits and make magnificent builds. I have heard good responses from builders from their new kits as well.

Revell USA defiantly has a place in the marketplace IMO. I have taken my grandson down to the local HS many times and he goes straight for the Revell/Monogram products. As was said before Revell is a good entry level kit, of all genres. I was even looking at their Constitution just yesterday with fond memories and was thinking of pulling the trigger and getting it.

All of us have teethed our skills on Revell and Monogram kits. Accurate? not really. Detailed? moderately. Does my grandson care? NO, he wants something to build and play with. And that will bring another builder into the fold, maybe later in life after all his other interest’s wains, he will return to his first love like we did.

One last thought, Shep Paine sure made good use of these “inferior” kits.

Steve

ON THE BENCH

1/72 Hasegawa Nell
1/700 Tamiya Scharnhorst / 1/700 Z-37 destroyer
1/72 Matchbox A-4 Mk-1 Comet

  • Member since
    February, 2014
  • From: Michigan
Posted by silentbob33 on Friday, March 30, 2018 4:17 PM
At least half of my stash is comprised of Revellogram kits. I love them. I don't care about the raised panel lines, and the detail is "good enough" for me. I've just gotten my 7 year old son started on building, and he's starting with...Revell and Monogram kits (their 1/48 F-16 is the first on the bench). As others have said, they are great for beginners, and they are low cost. The new kits are great as other have said as well. And I have seen a lot of people do some amazing things with those old kits...I may be foolish, but I'm holding out hope.

On my bench: 1/48 Monogram F/A-18 Hornet "Hi-Tech" version

  • Member since
    August, 2014
  • From: Willamette Valley, Oregon
Posted by goldhammer on Friday, March 30, 2018 4:22 PM

I'll agree on the latest offerings from RoG, have the 1/32 FW190F-8, and though I've looked it over, have not started it yet, so can't talk to fit, but the detail is somewhat amazing in a $35.00 kit of that size.

  • Member since
    July, 2004
  • From: Sunny So. Cal... The OC
Posted by stikpusher on Friday, March 30, 2018 4:49 PM

BarrettDuke

It will be a shame to lose Revell models if that is what actually happens. I think Revell models and similar products are the entrypoint for most people who become serious about scale modeling. How many of you built a Revell model as a young boy? Even Tamiya models are too complex for most 9 or 10 year olds. Without Revell, there will be fewer entry level kit makers, which means there will ultimately be fewer experienced modelers who can one day talk about Revell in dismissive tones. And as the experienced modelers disappear, the expert level kit makers will also start to disappear because there won't be enough buyers for all their expensive kits and ancillary products. Right now, we're living in this unique moment when baby boomers who are returning to their love of scale models have the health, time, and money to spend $100 on a kit and even more on paints, washes, and tools. The generations coming up behind us will not have all this disposable wealth. If we have fewer 9 and 10 year old modelers, it will become even harder to maintain the upper end modeling business that we can afford in the future. The loss of Revell's distribution network alone could have a devastating impact on the future of our hobby. If we lose Revell, I hope someone else will have the courage to risk the ire of our snobbery and keep supplying kids with simple, inexact, and, therefore, inexpensive scale models. Those kids are the future of the hobby we love.

 

Very well said!

 

F is for FIRE, That burns down the whole town!

U is for URANIUM... BOMBS!

N is for NO SURVIVORS...

       - Plankton

LSM

 

  • Member since
    November, 2009
  • From: Twin Cities of Minnesota
Posted by Don Stauffer on Saturday, March 31, 2018 9:58 AM

modelcrazy

 

Revell USA defiantly has a place in the marketplace IMO. ....

All of us have teethed our skills on Revell and Monogram kits. Accurate? not really. Detailed? moderately. Does my grandson care? NO, he wants something to build and play with. And that will bring another builder into the fold, maybe later in life after all his other interest’s wains, he will return to his first love like we did.

Steve

 

I would like folks to tell me of the inaccuracies and lack of detail of some recent Revell USA kits, like the ones I mentioned, the KK midget race car and the PT-17 Stearman, for instance.  While the Stearman is now also sold by RoG, I believe it was designed by Revell USA.  These inexpensive kits are better than any other kits of those subjects, regardless of who made them and offered them at any price.  The Etzel Speedclassics kit of the KK midget was an excellent kit, but no engine nor internal structure- the hood was not even removable.  Other than those two kits, all others that I am aware of were junk.  I also do not know of any better PT-17 kit. 

Okay, they are not fighter or bomber planes, but I applaud Revell for trying something different, even at the risk of a flop (the KK midget was indeed a flop in the market).

 

Don Stauffer in Minnesota

  • Member since
    July, 2014
  • From: Meridian, ID
Posted by modelcrazy on Saturday, March 31, 2018 10:24 AM

Sorry Don, I was referring to their older molds, my mistake I should have said that.

I find their newer kits very nice, especially ROG. I am very impressed with their 1/72 U-boats and their 1/72 armor is extremely detailed IMO. I haven't had the pleasure of looking at the new 1/32 offerings, but I've heard good things. I want to get that Stearman eventually.

ON THE BENCH

1/72 Hasegawa Nell
1/700 Tamiya Scharnhorst / 1/700 Z-37 destroyer
1/72 Matchbox A-4 Mk-1 Comet

  • Member since
    July, 2004
  • From: Sunny So. Cal... The OC
Posted by stikpusher on Saturday, March 31, 2018 4:14 PM

The only bad thing about Revell new tool releases is that they are not very frequent. At least not Revell USA. Revell Germany churns then out at a good rate and across many subject areas.

 

F is for FIRE, That burns down the whole town!

U is for URANIUM... BOMBS!

N is for NO SURVIVORS...

       - Plankton

LSM

 

GAF
  • Member since
    June, 2012
  • From: Anniston, AL
Posted by GAF on Sunday, April 01, 2018 7:33 AM
  • Member since
    July, 2014
  • From: Meridian, ID
Posted by modelcrazy on Sunday, April 01, 2018 9:52 AM

Hmmm. I happy to know their RC side is taken care of at least.

ON THE BENCH

1/72 Hasegawa Nell
1/700 Tamiya Scharnhorst / 1/700 Z-37 destroyer
1/72 Matchbox A-4 Mk-1 Comet

  • Member since
    May, 2017
  • From: ohio I want to leave
Posted by armor 2.0 on Sunday, April 01, 2018 11:00 AM

From what I read doesn' sound like they sold anything and there' conflict between horizon hobby and hobbico . Horizon got informaton that was confidental . They frozen all bids.

  • Member since
    August, 2005
  • From: Mansfield, TX
Posted by EdGrune on Sunday, April 01, 2018 11:12 AM

You can read the transcript of the auction  at

http://upshotservices.s3.amazonaws.com/files/ff11e972-f6c7-458c-a00b-05e14958d7f7/b984a95a-ce71-42e4-8cc0-f7a25db1058c.pdf 

In addition to the  RC business Estes rockets was also sold.There were no successful bidders for Revell USA or the distribution arm (i.e. Hasegawa or Italieri to the US).  Revell Germany was not addressed, perhaps due to the international nature.

From my reading, bids were received but were deemed too low to be in response to the 'stalking horse' valuation placed on these pieces.   One of these parties is Round3 LLC.   I don't know who they are - perhaps a joint venture of Round2 and someone else.   There are supposed to be meetings to address the sale of the other pieces and will be completed before the bankruptcy court hearing Monday morning.   (The lawyers don't get Easter/Passover with their families).

  • Member since
    June, 2014
  • From: New Braunfels , Texas
Posted by Tanker - Builder on Sunday, April 01, 2018 11:31 AM

Hmmm;

 I bemoan the fact that this has happened .Why ? Well , like many Americans I teethed in models from the likes of Revell , Monogram , Estes , Comet , Guillows and the list goes on . 

 I figured they would be gone a long time ago .Why ? interests change and so on . Cox ? I think I flew everything out of the box of theirs that I could . Revell and Monogram were for those Northern darker months wher you would get lost in Lake Erie's " Lake Effect " snowstorms . Curled up in my room building those fascinating little and big plastic thingys of all sorts .

 These companies do have a deep history with many in my generation . Well , It has happened . Did you see the list of royalties on Revell ? My Gosh ! Even Lockheed after all these years .

 You see the average person buying a kit does NOT realize what it takes to bring a kit to market . First the market studies that would support such a venture .Then Marketing and advertising plans . Okay , Done . Let"s see how much tooling is going to cost , get the engineers together and see what they say .

 The tooling company has to have input at this time .Type of tool  etc . Now next , will our present machines handle these tools or do we need to consider hiring outside tooling and die folks for this and how about the Extruders ? are they up to the task or do we need more sophisticated computer controlled units to produce and control the product .

 Now , that's done , Let's see about modeling world input .We'll wait till the trade show and see what the buyers say . If it doesn't grab well , we tried . Can we amortize the cost of this failure with an upgrade of say Model C over in the warehouse ?

   See there;s a lot that goes on that we don't see .We see the box in the hobby shop and maybe say OOH I gotta have that ! Or we pass in favor of Company z's new model of the same thing in a different scale . Every pass is a zing into the negative sales column .

 This may be oversimplification , but I believe it tells at least part of what goes on in the corporate world of models .

 I do know it was that way in my world of custom Homes , Civil Engineering projects and Long Haul Specialty Trucking . You had to spend to beat the other competition and be better in Customer service etc . It can eventually bite you , if , you Bit Off more than you could chew .

 These chances are taken every day in the world of business .That's why there so many Insurance companies , Hospitals and stuff in health care . It's the most Lucrative business out there . Research notwithstanding . Have you ever wondered why the ads for medicines carry all those warnings ? They've only marginally been approved by F.D.A . These pharmaceutical Companies can't by law experiment on animals or humans anymore .

 The public demands medicines that work , well here's a way of getting it to you . BUT , be careful please , It May even Kill You ! ! Such is the world . I said before , I bemoan the loss of these companies . But If I was a couple of decades younger I would scan the product into my handy dandy do it all 3-d printer and make as many B.F. 109s as I want .

 Or American merchant ships .  Nuff Said . T.B.

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