[NSRCA-discussion] Hobbico Chapter 11????

[John Pavlick]

So imagine you're a small company that was selling items to Hobbico. They
probably owe you money right now. This will mean that they don't have to pay
you back. Now, assuming they make it through the bankruptcy (and you can
write off all of the money they owe you AND still survive), how willing are
you going to be to sell stuff to them again???

 

John Pavlick

Cell: 203-417-4971

 



Integrated Development Services

 

 

From: NSRCA-discussion [mailto:nsrca-discussion-bounces at lists.nsrca.org] On
Behalf Of Jon Bruml via NSRCA-discussion
Sent: Wednesday, January 10, 2018 8:41 PM
To: DaveL322 <davel322 at comcast.net>; Michael Cohen
<precisionaero at hotmail.com>; General pattern discussion
<nsrca-discussion at lists.nsrca.org>
Subject: Re: [NSRCA-discussion] Hobbico Chapter 11????

 

That assumes new and intelligent management

Bankruptcy makes them a debtor in possession (dip)

The courts will appoint a manager of the DIP and then post petition
financing will be arranged and they will become immediatlely an operational
company

>From that point they will creat a plan to emerge from bankruptcy at the
expense of their creditors and suppliers

If they cannot emerge then the company will be liquidated

 

Jon Bruml

Techstyles 

Www.Techstyles.com <http://Www.Techstyles.com> 

  _____  

From: NSRCA-discussion <nsrca-discussion-bounces at lists.nsrca.org
<mailto:nsrca-discussion-bounces at lists.nsrca.org> > on behalf of DaveL322
via NSRCA-discussion <nsrca-discussion at lists.nsrca.org
<mailto:nsrca-discussion at lists.nsrca.org> >
Sent: Wednesday, January 10, 2018 5:33:17 PM
To: Michael Cohen; General pattern discussion
Subject: Re: [NSRCA-discussion] Hobbico Chapter 11???? 

 

The short of it.... Chap 11 is restructuring, not liquidation and out of
business.  So the most likely scenario (short term at least) is profitable
proprietary / exclusive product lines will continue and less profitable ones
will go away. 

 

Regards,

 

Dave

 

Sent from my Sprint Samsung Galaxy Note5.

 

-------- Original message --------

From: Michael Cohen via NSRCA-discussion <nsrca-discussion at lists.nsrca.org
<mailto:nsrca-discussion at lists.nsrca.org> > 

Date: 1/10/18 7:59 PM (GMT-05:00) 

To: NSRCA <nsrca-discussion at lists.nsrca.org
<mailto:nsrca-discussion at lists.nsrca.org> > 

Subject: [NSRCA-discussion] Hobbico Chapter 11???? 

 

So, just saw Hobbico is filing for Chapter 11 bankruptcy.  Since they own
Tower Hobbies and Great Planes AND are a distributor of many lines in the
US, what does this mean?  I still do buy some things that aren't pattern
related and even though some is from the Local Hobby Shops, if distribution
is gone, what happens then?

 

Mike Cohen



---
This email has been checked for viruses by AVG.
http://www.avg.com
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.nsrca.org/pipermail/nsrca-discussion/attachments/20180111/b97eeadc/attachment.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 735 bytes
Desc: not available
URL: <http://lists.nsrca.org/pipermail/nsrca-discussion/attachments/20180111/b97eeadc/attachment.png>