Has Amerang gone bust?

[barryorbik]

Hi All , I just seen read a post on the BMFA site saying Amerang has gone bust. Has anyone heard anything to confirm this and what effect will it have on our hobby? Barry

[LipolyGone]

That's what I heard yesterday via Facebook mate

[Reality Bites]

It would appear they are in administration.

Amerang

[DaveG]

Another one bites the dust unfortunately .... Hopefully TT will find or get picked by another distributor in the UK/Europe soon.

As now shown on the Amerang/Hobbyzone websites:

"On 26 June 2013, Richard Michael Hawes, Nicholas Guy Edwards and Robert James Harding of Deloitte LLP were appointed Joint Administrators of Modelzone Holdings Limited, The Amerang Group Limited, Modelzone Limited and Amerang Limited (together the "Companies"). The affairs, business and property of the Companies are being managed by the Joint Administrators. The Joint Administrators act as agents of the Companies only and contract without personal liability. The Joint Administrators are authorised by the Institute of Chartered Accountants in England and Wales (ICAEW). All licensed Insolvency Practitioners of Deloitte LLP are licensed in the UK"

[debrooker]

ooh thats bad

[p4ddy]

TT from HK mmmmm cheap Raptors

[dani_r]

Has Amerang gone bust?

I've never even heard of them! Are they a TT distributor or something? I imagine Fast Lad will be on this quick.

[SGD]

They are/were an importer/distributor along the lines of Ripmax. You've heard of Ripmax ain't ya Dan?

[Stuart]

Got wind yesterday.....

From what I understand MZ the holding group has had the plug pulled by one of the venture capital investors. But Amerang a subsidiary of the holding group MZ is solvent so I suspect either a MBO of Amerang or sell off to another group will follow soon enough.

The alternative is to wind the whole lot and capitalise on any assets at a distressed value i.e. peanuts.

I suspect Hobbico USA may come on the scene in the UK....

[SGD]

Got wind yesterday.....

From what I understand MZ the holding group has had the plug pulled by one of the venture capital investors. But Amerang a subsidiary of the holding group MZ is solvent so I suspect either a MBO of Amerang or sell off to another group will follow soon enough.

The alternative is to wind the whole lot and capitalise on any assets at a distressed value i.e. peanuts.

I suspect Hobbico USA may come on the scene in the UK....

Nice insight there Stuart

[Stuart]

Put it this way Hobbico USA own Revell and already have a setup in the UK and the opportunity to have TT etc in the UK and rc network should work well with some re jigging of assets. Then I would if I was them look to take over OS and Futaba from Ripmax given there relationship in the US I would have thought it should be a paperwork excercise.....who knows only my little in cling if I was in the driving seat this would be my plan....lol

[SGD]

Put it this way Hobbico USA own Revell and already have a setup in the UK and the opportunity to have TT etc in the UK and rc network should work well with some re jigging of assets. Then I would if I was them look to take over OS and Futaba from Ripmax given there relationship in the US I would have thought it should be a paperwork excercise.....who knows only my little in cling if I was in the driving seat this would be my plan....lol

LOL World dominance for you next then Stuart?

[dani_r]

They are/were an importer/distributor along the lines of Ripmax. You've heard of Ripmax ain't ya Dan?

Yes. Yes I have