Industry News News

RCGP launches RCGP-TV

See: RCGP Series

RCGP wants to provide both racers and fans the best possible race coverage. This is why they have launched RCGP-TV, which is a production team, built up of a combination of the well known and established people behind RC Racing TV, LiveRC and CTRL. CTRL Sport is the media company formed by Mat McCallum and James Parry who you know from numerous daily videos at RC events, such as NEO. RCGP-TV will not only bring you the RCGP events live on youtube, and other media platforms, it will also provide additional content, such as highlights, team features, as well as a television quality short series from each event. The voice of this new channel will be Nick Daman, of RC Racing TV fame. The coverage will be provided completely free, and archives will be available on youtube.The goal of RCGP-TV, is not only to cater to the people already within RC Racing, but also to be appealing to new people, and bring them into the hobby. The objective is to add interest and value to the brands supporting the racing series.

Muchmore appoints Joe Pillars as new USA sales manager

See: Muchmore Racing USA

Muchmore Racing International have announced that their team manager Joe Pillars will now be taking over as their USA sales manager. Joe will lead the USA sales from his home state of Oregon, where he is already stocking all popular Muchmore products making them easily accessible and available to hobby shops, tracks, and customers in the United States. Given Joe’s many years of experience and stellar reputation in the industry, he will also be handling the customer service side of things for Muchmore in the USA, as we understand this is a very important component as we continue to increase our presence. Joe stated:

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JQ Racing appoint Canadian’s team representative

See: JQ Racing

JQ Racing continues to grow its presence in North America, and welcomes Phil Matthews onboard as their Team Representative in Canada. Phil has over 25 years of experience in various disciplines of RC, he brings a plethora of knowledge to the table and has been busy racing and testing his JQ buggies enthusiastically over the last months.

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Horizon Hobby buy Hobbico

Source: The News-Gazette

A bankruptcy court judge approved Horizon Hobby’s $18.8 million purchase of Hobbico’s remote-control business including Great Planes and Tower Hobbies divisions, along with Axial and Arrma brands. Horizon was the lone bidder in a bankruptcy auction for Hobbico, which filed for Chapter 11 protection in January with the goal of finding a new buyer. It’s not clear how many of the employees will be hired at Horizon, especially since the two Champaign-based hobby-product distributors perform similar tasks.

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Lautenbach Racing Products announcement

See: LRP

Jürgen E. Lautenbach, founder of LRP, has announced that LRP electronic GmbH stopped operations on March 31, 2018 after having been in the market for 30 years and in the same time that the newly founded Lautenbach Racing Products GmbH will start its work on April 03, 2018. Lautenbach Racing Products GmbH is not a continuation company of LRP electronic GmbH and will operate with a modified business model adapted to today’s market requirements. Lautenbach Racing Products plan to ship the first goods starting April 16, 2018.

Philippe Neidhart takes back ownership of Team Orion

See: Team Orion

Team Orion was founded by Philippe Neidhart in 1987. Thanks to its numerous innovations and clever business strategy, Team Orion was highly successful for its first 20 Years of existence. Despite its best efforts, due to the worldwide economical crisis and other technological factors out of its control, the early years of the 21st century caused severe issues for Team Orion’s business as a whole.

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Insolvency proceedings of LRP electronic GmbH

See: LRP

LRP electronic GmbH and Associated Electrics, Inc. have announced a change in distribution for the Team Associated and Reedy brands. The bidirectional collaboration between LRP electronic GmbH and Associated Electrics, Inc. stands out as one of the most successful partnerships in the R/C industry’s history. After cooperating to win countless World Championship titles, the successfully shared sales and marketing efforts will come to an end. Starting February 1st, 2018, LRP electronic GmbH will not be the exclusive distributor for Team Associated and Reedy anymore. LRP electronic GmbH will now sell off its stock of Team Associated and Reedy products. All warranty and service for Team Associated and Reedy products will be handled by the new Team Associated and Reedy distributors starting February 1st, 2018. Jürgen E. Lautenbach stated:

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Hobbico filed for bankruptcy protection

See: Hobbico

Hobbico sent us this sad statement indicating that it plans to sell the company and will continue operating throughout the bankruptcy process:

Hobbico, Inc. Files Petition for Chapter 11 Relief and Pursues Sale of Company; Seeks Protection from Creditors to Restructure and Attract New Capital Investment; Operations Continue Throughout Bankruptcy Process.

CHAMPAIGN, Ill. – January 10, 2018 – Hobbico, Inc. (“Hobbico” or “the Company”) announced today that it has filed a petition for relief under Chapter 11 of the United States Bankruptcy Code while it seeks an orderly finalization and implementation of its comprehensive restructuring plan. The petition was filed today with the United States Bankruptcy Court – Wilmington of Delaware In conjunction, Hobbico also announced its plan to sell the company.

Since 1971, Hobbico has grown in to one of the largest United States distributors of radio-control and general hobby products. Built up over time and with the best intentions to further grow its business, Hobbico’s debt has added too much leverage for the Company, and it has been unable to successfully restructure to help meet its financial obligations. With the added impact over the last few years of an increasingly competitive industry, market headwinds and a series of one-off events with key suppliers, Hobbico’s current financial position is unsustainable.

“Despite Hobbico’s core strengths, our business has faced a number of challenges in the last few years, and we have taken steps to ensure all available options to restore the stability of the Company have been exhausted,” said Louis Brownstone, President of Hobbico, Inc. “However, while these efforts were taken to rebuild revenue and profitability, they did not sufficiently address our challenges and we decided to pursue a Chapter 11 reorganization and attempt to attract new capital investment.”

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