Round 2. Back in administration
 

https://m.thegazette.co.uk/notice/32...rKmENH-85ez9Ic


Bummed to read this today

Re: Round 2. Back in administration
 

I’d this the equivalent of a bankruptcy?


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Re: Round 2. Back in administration
 

Dang.

Re: Round 2. Back in administration
 

In administration means someone else steps in to protect creditors interest it's similar to bankruptcy buy not exactly the same

Re: Round 2. Back in administration
 

Like a Chapter 11?

Re: Round 2. Back in administration
 

Sorta except they don't get to try to reorganize unless the people administrating agree that it would be best for the creditors

Re: Round 2. Back in administration
 

Hey, Axial seemed to be in bad sorts, then Horizon bought them and they're on top of the game again. Maybe Horizon can afford HPI too...

Re: Round 2. Back in administration
 

That would be great! I really don’t want to buy a spare kit just to have parts available in the future.

Re: Round 2. Back in administration
 

Well nothing has broke on my venture in 15 months.....

Re: Round 2. Back in administration
 

Got a message on Facebook from hHPI today as I asked them if it was true, not old news..


"We can confirm that Kevin Murphy and Jason Maloney of CVR Global LLP and Kevin Brown of Kevin Brown Advisory Limited were appointed as Joint Administrators of the HPI Racing Ltd on 1 April 2019.
We confirm that the Company is continuing to trade under the supervision of the Joint Administrators whilst a buyer for the business is sought."


Note the "continuing to trade "

Re: Round 2. Back in administration
 

Continuing to trade could just mean that they are selling off existing inventory without placing any more orders for new merchandise.

Re: Round 2. Back in administration
 

It doesn't make any sense for Horizon to buy HPI. Horizon already has one or two alternatives to everything that HPI offers.

I was never an HPI fan even since I bot my Baja. It's just a bad design with lots of flaws. I would have given up on HPI completely if it hadn't been for the Venture. I think it's a great design. But one truck, especially one that was delayed for two years, isn't enough to keep a struggling company afloat.

Re: Round 2. Back in administration
 

Maybe Redcat will buy them and the Venture can become the Gen 9. :lmao:

Re: Round 2. Back in administration
 

This explains while my LHS hasn’t been able to get HPI stuff in stock. He placed several orders about a month ago and it has been “processing” since then.


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Re: Round 2. Back in administration
 

The crawler market is sort of saturated now, too, for the US at least. It's too bad, though, because the Venture is a good platform, and I could see potential for future RTR releases with different bodies. I think I'm going to sell mine, though, as I just don't have time (or room) for it, and don't want to be stuck with an unsupported platform.

Re: Round 2. Back in administration
 

So, stick someone else with an unsupported platform? :)

Re: Round 2. Back in administration
 

Lol I’ll take it! Spare parts!


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Re: Round 2. Back in administration
 

In all honesty though, those of use that are heavily into this hobby seldom leave stock parts on so even if there is no support from HPI I would imagine other companies will still fill that void should something break.


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Re: Round 2. Back in administration
 

Yeah, that makes sense. It's sort of just wishful thinking on my end. I really like Horizon, and them picking up the Venture would make my day, especially since all of my batteries already have EC3 plugs on them.

Re: Round 2. Back in administration
 

We can hope somebody will buy the Venture. It's a great truck!