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04-06-2019, 03:39 PM | #1 |
Quarry Creeper Join Date: Nov 2015 Location: US
Posts: 456
| Round 2. Back in administration |
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04-06-2019, 03:56 PM | #2 |
Quarry Creeper Join Date: Mar 2014 Location: san antonio
Posts: 492
| Re: Round 2. Back in administration
I’d this the equivalent of a bankruptcy? Sent from my iPhone using Tapatalk |
04-06-2019, 04:26 PM | #3 |
I wanna be Dave Join Date: Jul 2014 Location: Deep South
Posts: 3,444
| Re: Round 2. Back in administration
Dang.
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04-06-2019, 04:44 PM | #4 |
Quarry Creeper Join Date: Nov 2015 Location: US
Posts: 456
| 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
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04-06-2019, 06:19 PM | #5 |
Newbie Join Date: Mar 2019 Location: Seattle
Posts: 28
| Re: Round 2. Back in administration
Like a Chapter 11?
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04-06-2019, 07:54 PM | #6 |
Quarry Creeper Join Date: Nov 2015 Location: US
Posts: 456
| 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
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04-06-2019, 11:08 PM | #7 |
Rock Crawler Join Date: Apr 2015 Location: San Marcos
Posts: 658
| 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...
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04-07-2019, 10:43 AM | #8 |
Newbie Join Date: Mar 2019 Location: Seattle
Posts: 28
| 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.
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04-07-2019, 03:57 PM | #9 |
Rock Crawler Join Date: Jul 2010 Location: Great Britain
Posts: 767
| Re: Round 2. Back in administration
Well nothing has broke on my venture in 15 months.....
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04-08-2019, 04:55 AM | #10 |
RCC Addict Join Date: Nov 2010 Location: England
Posts: 1,603
| 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 " |
04-08-2019, 05:05 AM | #11 |
Rock Crawler Join Date: Dec 2005 Location: Marietta
Posts: 917
| 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.
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04-08-2019, 06:50 AM | #12 | |
Moderator Join Date: Sep 2008 Location: PA
Posts: 13,922
| Re: Round 2. Back in administration Quote:
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. | |
04-08-2019, 08:22 AM | #13 |
I wanna be Dave Join Date: Jan 2005 Location: Raleigh-ish vicinity
Posts: 3,846
| Re: Round 2. Back in administration
Maybe Redcat will buy them and the Venture can become the Gen 9. |
04-08-2019, 08:26 AM | #14 |
Quarry Creeper Join Date: Mar 2014 Location: san antonio
Posts: 492
| 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. Sent from my iPhone using Tapatalk |
04-08-2019, 08:46 AM | #15 |
Rock Crawler Join Date: Jan 2014 Location: Granite Falls, WA
Posts: 568
| 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.
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04-08-2019, 09:02 AM | #16 |
Rock Crawler Join Date: Dec 2005 Location: Marietta
Posts: 917
| Re: Round 2. Back in administration |
04-08-2019, 09:04 AM | #17 |
Quarry Creeper Join Date: Mar 2014 Location: san antonio
Posts: 492
| Re: Round 2. Back in administration |
04-08-2019, 09:06 AM | #18 |
Quarry Creeper Join Date: Mar 2014 Location: san antonio
Posts: 492
| 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. Sent from my iPhone using Tapatalk |
04-08-2019, 10:19 PM | #19 | |
Rock Crawler Join Date: Apr 2015 Location: San Marcos
Posts: 658
| Re: Round 2. Back in administration Quote:
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04-09-2019, 05:53 AM | #20 |
Moderator Join Date: Sep 2008 Location: PA
Posts: 13,922
| Re: Round 2. Back in administration We can hope somebody will buy the Venture. It's a great truck!
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