ASK Cubby – One Question, One Answer
“Hobbico Bankruptcy
omg. hobbico filed for bankruptcy? holy hell. that’s not good news at all. do you have any insight of what that means for my favorite brand, arrma?
Chad E.”
Cubby- Ya OMG. This isn’t really a subject we want to keep posting in the news, but it is BIG news, and yea our mail box is basically filled with letters just like yours. Yesterday was a wild ride for all those involved. My cell phone pretty much sounded like some extended Marshmello mix from 10 AM CST until around 8 PM CST. It started going off, then I received a message/call/text of some sort pretty much every minute for the rest of the day. I got absolutely zero work, of any type, done yesterday. I heard from people I haven’t heard from in over a decade because of the news. Furthermore, on a person level, to see the company that dominated the rc industry for so many decades have to file chapter 11 absolutely blows my mind.
So, what’s the scoop on ARRMA? Or Hobbico in general? When I do have inside info, I post about it. Now sometimes it is thickly veiled, but I try to word it so that other people in the know actually get it. The info I have at the moment is that this does not effect ARRMA as much because of how they are setup in Europe. From what we have been told, ARRMA does not fall under the Chapter 11. I don’t know how this works, I’m not a big business guy, I don’t get a lot of that stuff, don’t quote me as some defense, but this is what I was told. I think a lot of this was a shock to many people over there, and they are still trying to figure things out. This does not mean Hobbico is closing shop. They still exist, they still have products to sell, and everyone there is still working. We do not have much other info than that. I’m sure over the next few weeks we will learn a lot more.
However, I will give you a warning. All across the web, a whole lot of people are speculating as to the fate of Hobbico. Within 30 minutes of the PR going live on BigSquidRC, I saw all sorts of wild/false speculation in regards to the bankruptcy posted across the net. In fact, on a certain FB group, I read a long discussion on why Hobbico went into bankruptcy. Knowing what I do know, 90% of the responses in that thread were straight up wrong, with most of them being wildly so. Just don’t listen to them. There are a ton of people claiming they have heard, or they know.. most don’t.
The moral of my story is this, false news is rampant on the web and only getting worse. When we find out more about Hobbico and their in-house brands, we will post that information for all to see. Until then, be highly speculative of anyone posting like they actually know what’s up.
We are bummed about the news for sure. We have a lot of good friends over there, and we hope they figure out how to pull through. There have been a lot of companies that declare chapter 11 that are still around, have survived, and gone on to be very successful again. We hope that Hobbico will be one of those companies.
Yup, that’s it for this week. Hit me up with your rc questions, rants, or to just say hello. thecubreportrc@gmail.com
YOUR Cub Reporter
