Tower Hobbies

When it's R/C related, but doesn't fit anyplace else.

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Re: Tower Hobbies

Post by tamiyadan »

.

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Re: Tower Hobbies

Post by mk-Zero »

From the above news story:
Hobbico said it has an estimated 200 to 999 creditors, $10 to $50 million in assets, and $100 to $500 million in liabilities.
Wow, I'm no accountant, but that don't sound good! :shock:

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Re: Tower Hobbies

Post by GoMachV »

maybe they should go on shark tank. Mr Wonderful could turn them around
It's time to stand up to the bully. Support the companies that support the industry, not the ones that tear it down. Say no to Traxxas
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Re: Tower Hobbies

Post by Timmahhh »

GoMachV wrote: Wed Jan 10, 2018 4:49 pm maybe they should go on shark tank. Me Wonderful could turn them around
You are wonderful, but could you really do it all yourself?

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Re: Tower Hobbies

Post by RC10th »

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Re: Tower Hobbies

Post by Saito »

Timmahhh wrote: Wed Jan 10, 2018 5:49 pm
GoMachV wrote: Wed Jan 10, 2018 4:49 pm maybe they should go on shark tank. Me Wonderful could turn them around
You are wonderful, but could you really do it all yourself?
lol! I'm guessing he meant Mr. Wonderful, but that's hilarious.

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Re: Tower Hobbies

Post by GoMachV »

:lol: totally missed that
It's time to stand up to the bully. Support the companies that support the industry, not the ones that tear it down. Say no to Traxxas
Factory Works website

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Re: Tower Hobbies

Post by Lonestar »

Honestly, it's pretty sad... that 400 people or so losing their jobs :?
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Re: Tower Hobbies

Post by XLR8 »

Yes it is very sad. However, they can come to Alabama and we'll put them to work. It was just announced a couple days ago that Alabama has won their bid to receive a new $1.6 billion Toyota/Mazda assembly plant that will employ 4000 workers by 2021.
That said, I haven't totally given up hope for Hobbico. Their brands are iconic and they have huge market presence so I'm hopeful that some investor out there will pick them up. Recall what happened to Chrysler after the great economic meltdown. Like the auto industry, RC is a tough market these days but other retailers are making it work and, under the right management, Hobbico can too. It will become an enormous challenge for them to win back the suppliers they have lost.
Doug

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Re: Tower Hobbies

Post by NomadRacer »

Tower's in bad shape but what do I get in the mail today?
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Re: Tower Hobbies

Post by XLR8 »

Yeah, I also received one of those Speedmart flyers yesterday. It's extremely thin but I was surprised to see Associated is still represented.
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Re: Tower Hobbies

Post by Lonestar »

They've got some pretty sweet coupons, too, these days!

sucks that there's nothing in stock :mrgreen:

for a good reason :?

If they have $10M of assets and half a bil of liabilities, this means they've been turning losses for quite a while... :roll:
AE RC10 - Made In The Eighties, Loved By The Ladies.
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Re: Tower Hobbies

Post by NomadRacer »

XLR8 wrote: Thu Jan 11, 2018 11:20 am Yeah, I also received one of those Speedmart flyers yesterday. It's extremely thin but I was surprised to see Associated is still represented.


I went thru the website the other day, looking for Associated parts for my stash... logged out. :|
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Re: Tower Hobbies

Post by GoMachV »

This was just posted by a user on Facebook
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It's time to stand up to the bully. Support the companies that support the industry, not the ones that tear it down. Say no to Traxxas
Factory Works website

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Re: Tower Hobbies

Post by limestang »

Is the rc market actually shrinking or is there just more competition? There seems to be more brands, types and models than ever.

I wish the best to Tower Hobbies - They have been a great source of RC for me.

- Limestang

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