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

[Richard B. Strickland]

Even if you keep them on a short leash like COD--if it goes into bankruptcy, the court can come back and have you refund those payments to spread it out to the rest.

That TRULY sucks.


Richard Strickland


________________________________
From: NSRCA-discussion <nsrca-discussion-bounces at lists.nsrca.org> on behalf of John Pavlick via NSRCA-discussion <nsrca-discussion at lists.nsrca.org>
Sent: Thursday, January 11, 2018 2:34 PM
To: 'General pattern discussion'
Subject: Re: [NSRCA-discussion] Hobbico Chapter 11????


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



[idslogo2]

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

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________________________________

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

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