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Jan 11, 2018, 05:19 PM
Commander, U.S. Navy (Ret.)
franklin_m's Avatar
Discussion

Hobbico Chapter 11


This is interesting...

https://www.hobbico.com/company-news.php


From the local newspaper: ""After a strong prior year, the softening of the overall drone market in 2016 led to substantial declines in sales for Hobbico, (emphasis added)"

http://www.news-gazette.com/news/loc...ankruptcy.html
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Jan 11, 2018, 05:37 PM
KAVANAUGH 2024
Don't want to say I told you so, but I did and was told this bs with the feds wouldn't affect Tower Hobbies.

It would really be a crime if Tower disappeared not only for the employees but for areas like this crapola state that has no rc hobby shops.
Jan 11, 2018, 06:22 PM
Commander, U.S. Navy (Ret.)
franklin_m's Avatar
The local article mentions that two of Hobbicos major product lines have declared bankruptcy also. Wonder which ones
Jan 11, 2018, 06:54 PM
KAVANAUGH 2024
Quote:
Originally Posted by franklin_m
The local article mentions that two of Hobbicos major product lines have declared bankruptcy also. Wonder which ones
Aquacraft maybe.
Jan 11, 2018, 07:02 PM
Registered User
Wierda's Avatar
Great planes is one of them that declared
Latest blog entry: New look to a old plane
Jan 11, 2018, 07:11 PM
Commander, U.S. Navy (Ret.)
franklin_m's Avatar
This article says they're also being investigated by the Feds for mismanaging employee stock.

(end of article)
http://www.illinoishomepage.net/news...ptcy/909851835
Jan 12, 2018, 05:48 AM
Suspended Account
I'm sorry for Hobbico but have to smile a bit and add an "I told you so!" when looking at what this means for the entire industry. I suspect Hobbico is just the first of many.

On the up side, a Chapter 11 does not automatically mean Hobbico is closing it's doors. Not yet anyway.
Jan 12, 2018, 06:10 AM
Hey Guys, Watch This.......
mike2663's Avatar
This has been brewing for some time. A number of suppliers cut them off due to nonpayment. Traxxas has a lawsuit pending against them. The numbers don't look good as far as a recovery.

Mike
Jan 12, 2018, 09:15 AM
Commander, U.S. Navy (Ret.)
franklin_m's Avatar
Quote:
Originally Posted by mike2663
This has been brewing for some time. A number of suppliers cut them off due to nonpayment. Traxxas has a lawsuit pending against them. The numbers don't look good as far as a recovery.

Mike
I used to be a regular customer, but quit when they dropped Thunder Tiger (I'm a helo guy).
Jan 12, 2018, 09:24 AM
Hey Guys, Watch This.......
mike2663's Avatar
Quote:
Originally Posted by franklin_m
I used to be a regular customer, but quit when they dropped Thunder Tiger (I'm a helo guy).
They were never our main supplier or our go too here at the shop. We use them for the Estes line, stock a few Great Planes aircraft. Very few here fly Futaba. Will they be missed sure , but they spread themselves way too thin in the recent years.

Mike
Jan 12, 2018, 10:47 AM
Registered User
I expect Horizon to be next. Back to smaller suppliers and LHS? Or will Amazon take up the slack?
Jan 12, 2018, 10:57 AM
Commander, U.S. Navy (Ret.)
franklin_m's Avatar
Quote:
Originally Posted by Sport_Pilot
I expect Horizon to be next. Back to smaller suppliers and LHS? Or will Amazon take up the slack?

If thatís true, probably time to start migrating to Taranis.
Jan 12, 2018, 11:41 AM
Hey Guys, Watch This.......
mike2663's Avatar
Quote:
Originally Posted by Sport_Pilot
I expect Horizon to be next. Back to smaller suppliers and LHS? Or will Amazon take up the slack?
Actually Horizon has already gone though a big change when the investment group took over a few years back. Cutting the fat if you will and running a tighter ship. I think they are fine for the time being.

Mike
Jan 12, 2018, 11:48 AM
Registered User
Quote:
Originally Posted by mike2663
Actually Horizon has already gone though a big change when the investment group took over a few years back. Cutting the fat if you will and running a tighter ship. I think they are fine for the time being.

Mike
If sales are down at lower priced Tower then sales are probably even worse for Horizon.
Jan 12, 2018, 11:50 AM
BFMAC Founding Member
Quote:
Originally Posted by franklin_m
If thatís true, probably time to start migrating to Taranis.
Isn't that one of those ****hole nations Trump wants to block migration from?


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