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Hobbico Bankruptcy Filing

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  • Member since
    January, 2004
Hobbico Bankruptcy Filing
Posted by Lincoslam on Wednesday, January 10, 2018 11:07 PM
  • Member since
    January, 2018
Posted by htown3 on Thursday, January 11, 2018 12:22 AM

Probably not hard to predict.  Baby boomers have bought all of their retirement toys and are now either playing with them or moving on.  I have spent very little on models or supplies the last couple of years as I have more stuff on my shelf than I will ever build especially as eye sight and fine motor skills are going. 

Happening to other hobbys too.  Harley is really hurting.  Even golf courses are under utilized.  Wouldn't be suprised to see 1:1 collector car market crater in a few years. 

Gen xers are smaller in number and also most won't get any sort of pension so will be interesting to see what their hobbies are. 

Anyway, can't stop change but really feel for those losing their jobs. 

  • Member since
    November, 2004
  • From: Winnipeg Canada
Posted by Wayne Farmer on Thursday, January 11, 2018 12:34 AM

1:1 car hobby was ruined years ago by auctions like B/J..People can't afford cosmetic restorations like the sell..Prices are too high..Models will be okay for maybe another 5-10 then that will be it..Look at some of the prices of todays older kits..Huge money..Even they're getting out of hand..The new comers, Milliniums couldn't care less..They want everything easy and don't want to work or do anything to build or create it..Just stick your face in a phone..Sorry but thats how I think and unfortunately the way the country is going now..

 

  • Member since
    December, 2003
  • From: Nova Scotia
Posted by Bainford on Thursday, January 11, 2018 8:08 AM

Sad news, but as the others have said it is predictable and enevitable. The hobby continues to erode and crumble, and hobbico is just another unfortunate stone that has fallen into the abyss. I feel bad for those who will lose their jobs.

Perfection is achieved not when there is nothing more to add, but when there is nothing left to take away.
       - Antoine de Saint-Exepury

  • Member since
    May, 2008
Posted by Wild Bill 426 on Thursday, January 11, 2018 9:20 AM

Okay, guys.  Stop the panic mode.

First, go to Hobbico's website.  They are a much larger company than just plastic models.  It appears most of their business is RC and drones.  Like many other companies it appears they bought a lot of brands, incurred a lot of debt, and made a wrong turn.  Oh well.

Revell, Italeri and Hasegawa won't disappear.  They'll get sold.  For all we know those brands are making money.  Which leads me to the next point.

Models will be around for a long, long time.   People have been making models for hundreds of years.  The hobby is much larger than the US market, and it is very strong in the Far East and Europe.  Don't believe me?  Go to a site like Armorama and look at the amount of new stuff (including plastic kits) that gets released every single week.  The amount is staggering.  Also, the amount of new kit manufacturers is huge.  We've even seen a few in the model car hobby, like Moebius.  If you build military stuff, brands that weren't here 10 years ago like Meng and Takom and HobbyBoss are big players with lots of great product.  If you've taken a course in basic economics, these facts indicate a very healthy industry.  Cars are a minor part of the industry, but they're still here.  Many of the new tools are with 'foreign' brands like Aoshima and Belkits, but Revell's done a pretty good job over the last few years with some great new tools.

And also....i have a book at home that is a history of Revell.  Revell, once it was sold the first time, has been through a number of different corporate owners (as has Monogram, AMT, MPC, et al).  And they're still here.  And they'll continue to be here.  And you know, over the next five years this development could turn out to be a positive one. 

So take a deep breath, go home, and build something!!  LOL.

Wild Bill "Plastic cars are better than real cars cuz' they're a lot cheaper to fix. You don't even need duct tape and wireties"
  • Member since
    March, 2010
  • From: Midwest
Posted by High octane on Thursday, January 11, 2018 9:47 AM

Whatever happens to Revell won't affect a lot of us who have hundreds of unbuilt model kits in their stash. And with all that plastic at home waiting to be built, why would guys be "chomping at the bit" for the lastest kit about to be released or re-issued. Having a lot of kits only says that a person is able to spend money and has nothing to do with whether they build kits or not. As for me, ALL the model companies could "fold up" and I don't think that it would have any effect on me at all.

High octane

  • Member since
    January, 2004
Posted by Lincoslam on Thursday, January 11, 2018 11:57 AM

I don't think I saw or read any panic. I have no doubt that to a degree automotive modelling will be around. I have been hearing about it's the demise for 40 years. You kind of answered yourself though as far as what segements of the "overall" hobby are perceived to be doing well: Military. That leaves little developement for the auto sector. I hope this works out, but everytime you read or see stories like this you still get "the end is near" feeling.

 

  • Member since
    January, 2004
  • From: Charlotte
Posted by mikemodeler on Thursday, January 11, 2018 2:47 PM

Until the courts and lawyers finalize any deals that come from the bankruptcy filing, all we can do is speculate what will happen.

Some will say the hobby is dying, some say it's doing fine. The reality is that in the United States, it appears to be a shrinking market but as others pointed out, in other parts of the world it's thriving.

We have been through some dark days in the modelling hobby and I think we will come through this just fine and maybe even a healthier Revell!

  • Member since
    December, 2007
  • From: Portland Oregon: Tree Country. Most beautiful area on the West coast.
Posted by Treehugger Dave on Thursday, January 11, 2018 6:19 PM

I'm not a "chicken Little" kinda guy, but there is a new dynamic at least here in the U.S.

Most of us older guy's have a pretty large stash of unbuilt plastic, diecast, and resin model car kits so we don't wait for the new kits to come out. I haven't bought a new kit to build in several years. I have no more room. Not to mention many of us older builders are slowly dyin' off, so that narrows the field without many to replace us.

And the young kids coming up have no interest due to electronics. I'd probably be the same way if I was their age.

So that just leaves the guys in the middle from the 80's and 90's and those cars....well to me they sucked, so to me the next 10 years should be interesting, if a bunch of us make it that long Tongue Tied.

Things change - they always have.

Why heck, I went to the Gym today and one of my favorite workout machines was gone - replaced by a newer model, but life still goes on Cool.

And wouldn't you know it.

According to God this ol' earth even has an expiration date like evrything else around us.

If you haven't noticed EVERYTHING wears out and desintagrates back into the ground eventually. Some a little faster than others - but just sayin' if your payin' attention...

 

 

 

                                     

 

 

  • Member since
    October, 2008
Posted by oldcarguy on Sunday, February 04, 2018 8:09 AM

I am Sorry ;

 I have to correct you here .Folks have Not been making models for hundreds of years .It's more like some thousands of years !

gjgeracci

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