It doesn’t look good for Hobbico as Revell’s largest creditor is a Chinese company owed over $1 million which could be the one which does the moulding and has possession of the moulds. This wouldn’t be good for the modeling world.
Revell DE owes the parent company $14 million, and Hobbico GMBH owes $26 million.
The minimum bid for RoG is $8million, and for an extra $10 million, will throw in Revellogram USA.
Bummer. What do you suppose is driving these issues? Lack of interest, or quality kits coming out of the woodworks? Both I suppose.
If I had the funds, would it make sense to buy? Or are they making buggy whips…
$ 1 million is couch change these days.
Doubt its money, more like market.
Revell is doomed because their business model is new subjects, not the latest Tiger 1 subtitle 7, unknown french division, 1943, Whitmann’s co fighters friend tank.
They made their name on the first Iowa Class, then BB 39, then Century jets. Stuff kids and their paarents could bond over.
I’d like to come over and sit and talk with you on your couch for a bit 
What’s with people keep plagiarizing my Hyperscale post on this subject?
Here’s a link to my original (complete with all the same links):
http://www.network54.com/Forum/149674/message/1522110299/Hobbico-Revell+news
Note that Hobbico is asking for $10 million for the combination of Revell DE and Revell USA not $18 million. Revell DE is worth substantially more than Revell USA.
The notices of successful bids in the auction of Hobbico have been filed at
http://www.jndla.com/cases/hobbico
(Look under the docket section)
The Hobbico RC business and Estes Rockets received successful bids, but no bids are recorded for Revell USA or Revell Germany.
There was also an objection filed by Hobbico’s creditors to the sale of the RC businesses.
I can’t help but see this as a bad thing for the future of both companies. It’s clearly a step towards a straight liquidation of assets in which the survival of existing molds and 2018 release plans is no longer assured.
We’ll know more Monday, but with the sale of the largest part of Hobbico to Horizon. The ability of what remains to keep operating beyond the end of next week will be limited.
Have to wonder if one of the other model companies didn’t bid on them, hoping to get a better deal in a liquidation fire sale.
If you’ve had an eye on any kits, might be an idea to grab them now, just incase it all goes south for good.
I just don’t know which company would have the resources.
I would guess one of the Chinese outfits, and if not outright, then with gov’t backing…Gov’t wouldn’t blink at a mere 10M, and probably half or less in a fire sale.
It’s disappointing, but I stated before I would not be surprised if there was not much interest in R/M as a going concern - most of their stuff is just too old these days, and they are not a market force any longer. Those days have long passed.
It’s a shame a company like Round2 does not appear to have the assets to acquire them. They have done a very good job with the brands they’ve shepherded, like AMT. Money is tight there, though, and new releases are very occasional. Mostly just cleaned up and new decals for old kits. Which I think is the only way Revell/Monogram would have any value these days.
I had gotten shouted down a couple weeks ago saying that the end was nigh for Revell. I know that we all grew up on them and they were competitive in the 60’s through the 80’s but from then on almost every company has made better quality kits on new molds with better fit, more pieces and better subjects. I cannot think of a worse major manufacturer of kits today. That is essentially why they have been borrowing to stay afloat since Binney and Smith, the parent company of crayola at the time, purchased them in the late 80’s and they still can’t get past their issues. Repopping old molds from 40 years ago with an occasional new tool car or ship is not enough to be competitive. How many companies still lazily produce aircraft with raised panel lines? If hobbico sold the rc portion of their business then it is over for them. It was their core and revenue generator. The remainder can’t sustain itself.
Revell and Revell Germany will be purchased pennies on the dollar and will exist in the future in some form no doubt. I hope the new owner will care enough to update the manufacturing and quality to be interesting and relevent.
This is just my personal opinion that revell models are a perfectly good waste of plastic and cardboard.
It will be a shame to lose Revell models if that is what actually happens. I think Revell models and similar products are the entrypoint for most people who become serious about scale modeling. How many of you built a Revell model as a young boy? Even Tamiya models are too complex for most 9 or 10 year olds. Without Revell, there will be fewer entry level kit makers, which means there will ultimately be fewer experienced modelers who can one day talk about Revell in dismissive tones. And as the experienced modelers disappear, the expert level kit makers will also start to disappear because there won’t be enough buyers for all their expensive kits and ancillary products. Right now, we’re living in this unique moment when baby boomers who are returning to their love of scale models have the health, time, and money to spend $100 on a kit and even more on paints, washes, and tools. The generations coming up behind us will not have all this disposable wealth. If we have fewer 9 and 10 year old modelers, it will become even harder to maintain the upper end modeling business that we can afford in the future. The loss of Revell’s distribution network alone could have a devastating impact on the future of our hobby. If we lose Revell, I hope someone else will have the courage to risk the ire of our snobbery and keep supplying kids with simple, inexact, and, therefore, inexpensive scale models. Those kids are the future of the hobby we love.
To me, I believe the loss of Revell would be a loss to modelers of any experience. I have been modeling for 73 years, and still build Revell’s models. I find their new-mold kits excellent and at bargain prices. I am building their Aerobatic Stearman, a marvelous kit. I made some goofs as I am building one with some mods (making a Red Baron Pizza version), and have already ordered a replacement to do it right, using lessons I am learning from the first build.
Their recent KK Midget race car was also a beautiful kit. It failed in the marketplace due to lack of interest in vintage racing cars, nothing wrong with kit. The kit, though, is not an entry level kit- it is tiny and lots of small delicate parts (with awesome detail). I like that Revell will take a flyer now and then on an unusual subject, not just continue to turn out more versions of a 109.
I do hope RoG are able to keep going. Despite whats been said above, which seems to be aimed at Revell USA but seems to lump both labels in the same pot, RoG have certainly been producing stunning kits in the last few years. And those kits are often priced a lot lower than other brands but without loseing quality.
RoG is still a big brand this side of the pond, so ifs its true that its up for 8 million, hopefully someone in Europe wil snap it up.
And if I may point out Revell Germany is a totally different animal from Revell USA. Built their 1/72nd B-17G a few years ago and it’s Hasegawa quality at less than half the price. I’ve heard the brand new Airfix 1/72nd B-17G is better but frankly it’s a hard kit to top. I might have to pick up a few extra just in case… [whstl]
I guess I’m a bit of a hypocrite in wanting to see Revell USA to stick around though because I haven’t bought anything by them in years other than a few car kits for the nephew. [:$]
Gamera, There’s no hypocrisy in wanting to build more accurate kits. You want a greater challenge. That’s appropriate, IMHO. You honed your skills over many years to get to this point. You’re doing what should be done when you buy your nephew a less complicated kit that he can learn on and not get so frustrated that he gives up on the hobby altogether.
Agreed! Their recent 1/32 offerings have been a tremendous bang for the buck. Plus those blue boxes are very unique to RoG and really stand out on store shelves. I really hope they weather the storm or someone can pick up this line and continue to provide great quality at low costs.
I find ROG excellent. Their 1/72 armor is highly detailed with multiple parts and for the most part very accurate. Their 1/72 type VII and type IX U-boats are very enjoyable kits and make magnificent builds. I have heard good responses from builders from their new kits as well.
Revell USA defiantly has a place in the marketplace IMO. I have taken my grandson down to the local HS many times and he goes straight for the Revell/Monogram products. As was said before Revell is a good entry level kit, of all genres. I was even looking at their Constitution just yesterday with fond memories and was thinking of pulling the trigger and getting it.
All of us have teethed our skills on Revell and Monogram kits. Accurate? not really. Detailed? moderately. Does my grandson care? NO, he wants something to build and play with. And that will bring another builder into the fold, maybe later in life after all his other interest’s wains, he will return to his first love like we did.
One last thought, Shep Paine sure made good use of these “inferior” kits.
Steve
At least half of my stash is comprised of Revellogram kits. I love them. I don’t care about the raised panel lines, and the detail is “good enough” for me. I’ve just gotten my 7 year old son started on building, and he’s starting with…Revell and Monogram kits (their 1/48 F-16 is the first on the bench). As others have said, they are great for beginners, and they are low cost. The new kits are great as other have said as well. And I have seen a lot of people do some amazing things with those old kits…I may be foolish, but I’m holding out hope.