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Old 18-11-2017, 05:36 PM   #21
Walkingthedog
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Oh did they, I didn't read that. Great news.


The doom and gloom merchants will be posting about that elsewhere.
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Old 18-11-2017, 07:17 PM   #22
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Oh did they, I didn't read that. Great news.


The doom and gloom merchants will be posting about that elsewhere.
Have a look at RM*** - it's an incredible forum where 95% of the membership are company law/takeover specialists! Does my head in sometimes - especially when a new loco comes out.

This is why this forum is so good for "normal" railway modellers.
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Old 18-11-2017, 07:45 PM   #23
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Have a look at RM*** - it's an incredible forum where 95% of the membership are company law/takeover specialists!
Bravo BB! R-
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Old 18-11-2017, 09:52 PM   #24
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.....Hornby is raising 12m to develop products to attract "a new generation of enthusiasts".....
According to Hornby, only 1.1 million of that 12 million is earmarked for investment in new products.

The majority of the money raised is going to be used to pay off some of their debts, to buy a 49% share of Oxford's parent company, for more expensive restructuring (again), to obtain some much needed working capital and to prop up their new pricing strategy.

The accompanying financial figures that were released with this announcement are quite worrying. Sales down, turnover down, margin reduced and debt increasing.
Without the extra capital injection that comes from this share issue, they say they would have been in breach of their banking covenants by the end of the year.
I think that means that the banks would have had no option but to pull the plug.

After several attempts to restructure and change around their business model, like others, I'm worried this must be Hornby's last chance.


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Old 18-11-2017, 10:00 PM   #25
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Sadly, I'm inclined to agree. Over the last few years there position really hasn't improved at all. There have been some great loco's that have sold out - but that doesn't save a company. Fingers crossed - not sure I have enough!
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