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ModelZone in Administration?
Topic Started: Jun 25 2013, 07:14 PM (1,470 Views)
Nikon User
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"BEAVER"
Hot off the press is news that ModelZone are appointing Administrators...

http://www.telegraph.co.uk/finance/newsbys...nistration.html
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Mark M
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Hawk T1
Oh pants

stock clearance ?
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Mapo
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Lt. Pete 'Barracuda' Ashcroft
Deloitte turned HMV round quite quickly (4/5 months) i suspect they'll cull the shops making a loss (bad news for some) and stick everything on sale (good news for us all) untill Modelzone are back in the Black

Pete
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Mosquito
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Kit reviewer
With the sales that Modelzone have been having I have been asking the staff in the Brum Store if there were problems but they weren't aware f any.

I'd better spend more time in the city centre! :D
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madmonk
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Lt Warren "Satan" Monks
This could be bad news for both my wallet and my marriage as the MZ in Peterborough is only a two minute walk form the office there and I go there at least twice a week.

Hopefully something can be done with it as could have a serious effect on our hobby.

Cheers,

Warren
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Olde Farte
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Lt. Derek 'Smurfy' Reeve
It's always sad to hear of a model/hobby shop closing but unfortunately it is a sign of the times. I have forgotten the last time I walked into a shop and bought my modelling stock much preferring to shop online now. I have been known to go into the Lakeside Mall shop but haven't ever found anything to tweak my interests.
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Mark M
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Hawk T1
hold on a min ive had a thought


MZ are the same company as Aningrad so does this mean there will be problems with imports of foreign kits like hasse ones?

the plot thickens
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Cimmerian
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Lt. Ken 'Albatros' Jeffrey
Sad news indeed. It's never a good thing when a model shop closes.
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beowulf
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Lt. Paul 'Red Dog' Rose
if they do go thro it will be a pain.............not often i do shop in MZ but when i do its cos i know i can get what i want when i go in there. i can see nottinghams branch closing as the lease must be getting ready to run out, just like all the other shops, due to the redevelopment of broadmarsh centre

i think they would just rebirth as an online entity as these days that seems the way to go

MZ was created by the management after Beatties folded as they already had all the right contacts/importation infrastructure.............same thing would happen here.........all the same people, just a new company
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peebeep
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resin fondler
Mark Marples
Jun 26 2013, 09:29 AM
MZ are the same company as Aningrad so does this mean there will be problems with imports of foreign kits like hasse ones?


You mean Amerang. Modelzone and Amerang are subsidiaries of the Amerang Group Ltd. of which the parent company is Modelzone Holdings Ltd. It's quite possible that Amerang and Modelzone have staff and management that are common to each other and Amerang is without doubt reliant to an extent on distributing products through the Modelzone chain, but they are otherwise separate entities. If Modelzone folds - and at this stage that is by no means a certainty - then Amerang would need to distribute through other retail outlets to remain trading at the same level. It's quite possible the administrator will get Modelzone back on track, or the company may find a buyer. Whatever happens there is likely to be considerable cutbacks on Modelzone shops and staff.

peebeep
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davedubya
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Airbrush master
I'm not too surprised. Visiting the London store at the weekend, it had the same feel that Jessops used to.
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Deleted User
Deleted User

The one in cambridge is huge and you always get a friendly welcome.

But please don't speculate as we wont know what is happening until it does. As I am curently going through a simialr thing at work where my job is on the line please respect the staff that could be losing there jobs.
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smeds
Airbrush master
Was in MZ in Broad Marsh shopping centre in Nottingham today, no sign of this there.

Hope it works out for all involved.
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peebeep
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resin fondler
shaunb
Jun 26 2013, 04:48 PM
The one in cambridge is huge and you always get a friendly welcome.


I was in there last March, it was very well stocked with plastic as well as all the other product lines that MZ do and it was bustling with activity. I was impressed as it was one of the best MZ's I've ever visited.

peebeep
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peebeep
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resin fondler
Here's the statement that's up on modelzone.co.uk:

Quote:
 
"On 26 June 2013, Richard Michael Hawes, Nicholas Guy Edwards and Robert James Harding of Deloitte LLP were appointed Joint Administrators of Modelzone Holdings Limited, The Amerang Group Limited, Modelzone Limited and Amerang Limited (together the "Companies"). The affairs, business and property of the Companies are being managed by the Joint Administrators. The Joint Administrators act as agents of the Companies only and contract without personal liability. The Joint Administrators are authorised by the Institute of Chartered Accountants in England and Wales (ICAEW). All licensed Insolvency Practitioners of Deloitte LLP are licensed in the UK"


So the whole group is affected.

peebeep
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