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View Full Version : sad news for hpi europe.

mark christopher
20-01-2016, 11:47 AM
At the very bottom of their page.

http://www.hpiracing.co.uk/piw.php?partNo=114060




Copyright 1996-2016 Hobby Products International Europe Ltd T/A HPI Racing UK - In Administration.home | news | product search | web links | shop finder | service | company info | contact
The affairs, business and property of Hobby Products International Europe Limited are being managed by Eddie Williams and Nick Wood, appointed as Joint Administrators on 14 January 2016.
The Joint Administrators act as agent of the company without personal liability.
Eddie Williams is authorised by the ICAEW to act as an insolvency practitioner and Nick Wood is authorised by the IPA to act as an insolvency practitioner.
Backforfun
20-01-2016, 04:18 PM
Agreed sad news but let's hope the administrators can trade through it and hand control back ?
mark christopher
20-01-2016, 07:53 PM
Agreed sad news but let's hope the administrators can trade through it and hand control back ?

rumour is its going outside the uk to orion
beale
20-01-2016, 09:19 PM
It's a massive company in the RC realms of Tamiya, AE and Traxxas but as per all industry over the world you minimise costs, it's not closed up for business.
daz75
21-01-2016, 08:55 PM
woeful margins for shops, only sadness is for the staff, but rip off merchants
kaylon
22-01-2016, 12:32 AM
I wonder how broad this administration is... is it just HPI UK, or the larger HPI Europe as a whole ?

Very sad though, I'm a huge HPI fan and have many of the cars. Will have to see how this plays out.

K
DCM
22-01-2016, 07:14 AM
It will be the UK Ltd company, they will be actively seeking a buyer to clear the business debts, if that doesn't happen they will sell off all the assets to clear. Hopefully they will find a buyer.
Backforfun
22-01-2016, 01:16 PM
Well Bearings Bank sold for £1.00 when in administration!! i think the buyer may need deep pockets to trade out of this. As returns carnt be that large
Welshy40
22-01-2016, 03:45 PM
rumour is its going outside the uk to orion

Kyosho then
terry.sc
22-01-2016, 10:12 PM
rumour is its going outside the uk to orionNot a rumour, the European distribution rights were transferred to Neidhart SA in Switzerland on 6th January
http://www.rcnews.net/2016/01/05/hpi-hands-over-european-distribution-rights-to-neidhart-sa/

Although it looks like it's not as simple as that
http://www.rcnews.net/2016/01/22/hpi-europe-in-administration/