Tower Hobbies

Post by **mk-Zero** » Wed Jan 10, 2018 4:45 pm

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!

Post by **GoMachV** » Wed Jan 10, 2018 4:49 pm

maybe they should go on shark tank. Mr Wonderful could turn them around

Post by **Timmahhh** » 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?

Post by **RC10th** » Wed Jan 10, 2018 5:51 pm

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

Post by **Saito** » Wed Jan 10, 2018 8:56 pm

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.

Post by **GoMachV** » Wed Jan 10, 2018 9:31 pm

totally missed that

Post by **Lonestar** » Thu Jan 11, 2018 8:15 am

Honestly, it's pretty sad... that 400 people or so losing their jobs

Post by **XLR8** » Thu Jan 11, 2018 10:06 am

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.

Post by **NomadRacer** » Thu Jan 11, 2018 11:11 am

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

Post by **XLR8** » 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.

Post by **Lonestar** » Thu Jan 11, 2018 11:21 am

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

sucks that there's nothing in stock

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...

Post by **NomadRacer** » Thu Jan 11, 2018 12:36 pm

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.

Post by **GoMachV** » Thu Jan 11, 2018 6:16 pm

This was just posted by a user on Facebook

Post by **limestang** » Thu Jan 11, 2018 8:24 pm

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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