Dean Posted June 28, 2012 Share Posted June 28, 2012 I was just going to look at Galaxy models mustang kit when I read this: Galaxy Models and Hobbies Limited – in Administration Mark Upton of Ensors Chartered Accountants was appointed as Administrator of the company on 26 June 2012 Please note that any credit card transactions during the Administration period will appear on your statement as ‘Ensors’ In connection with the Administration, we are now seeking offers for the business and assets. If you are interested in purchasing all or any of the stock, fixed assets, intellectual property and/or goodwill, please contact a member of the Ensors Business Recovery Team on 01473 220022. Sad news, they made some great builders kits at very good prices Quote Link to comment Share on other sites More sharing options...
Tim Mackey Posted June 28, 2012 Share Posted June 28, 2012 That is a shame. Quote Link to comment Share on other sites More sharing options...
Andy Green Posted June 28, 2012 Share Posted June 28, 2012 What a shame, looks like there going to be a fire sale. Andy Quote Link to comment Share on other sites More sharing options...
Eamonn Fahey Posted June 28, 2012 Share Posted June 28, 2012 Sad to hear. I have purchased a lot from them over the years. Quote Link to comment Share on other sites More sharing options...
Cyclicscooby Posted June 28, 2012 Share Posted June 28, 2012 Quote Link to comment Share on other sites More sharing options...
Erfolg Posted June 28, 2012 Share Posted June 28, 2012 Just goes to show, although UK model prices seem to be high, compared to retail Chinese prices, the margins must be minimal for the retailers in the UK. I had thought that they had a very strong Internet/postal business and that would be the way of the future. So what hope is there for most LMS? A great pity. Quote Link to comment Share on other sites More sharing options...
Ian Jones Posted June 28, 2012 Share Posted June 28, 2012 Yes and they gave good service too - gave me great advice when I sought it about my 2nd hand Scorpion Twin. (Currently undergoing maintenance ) Quote Link to comment Share on other sites More sharing options...
Simon B Posted June 28, 2012 Share Posted June 28, 2012 Mark ups in the UK are never much more than 30%. Out of this you've got to pay staff, taxes, rent etc. Worth bearing in mind next time folks think about moaning about prices in the LMS! Quote Link to comment Share on other sites More sharing options...
Bob Cotsford Posted June 28, 2012 Share Posted June 28, 2012 It looks as though they are still taking orders then. If next years build was to be fun-fighters I was going for one of their Typhoons. edit - they are still taking orders either over the phone or on their web site. Edited By Bob Cotsford on 28/06/2012 16:02:00 Quote Link to comment Share on other sites More sharing options...
Richard Wood Posted June 28, 2012 Share Posted June 28, 2012 That's very sad news - let's hope the administrator finds a buyer for the business. Quote Link to comment Share on other sites More sharing options...
Concorde Speedbird Posted June 28, 2012 Share Posted June 28, 2012 My local model shop... I really hope someone decent buys the business, I do not want them to die. I went recently, we were looking for my second plane, they were brilliant and offered me the Domino, which I bought. Who votes for a Galaxy models kits mass build to help them out?! CS Quote Link to comment Share on other sites More sharing options...
Erfolg Posted June 28, 2012 Share Posted June 28, 2012 Simon Perhaps we should moan at government and the Local authority though, creating a high tax and overhead trading environment. Quote Link to comment Share on other sites More sharing options...
Simon B Posted June 28, 2012 Share Posted June 28, 2012 Depends if you think wages are too high. That's a large percentage of overheads and I bet most shops pay their staff little over minimum wage. The only area of taxation I ever have a massive problem with is business rates and it's less to do with the tax and more to do with the application. The 'rateable value' has little measure other than what some town official thinks. At least most taxes are based on a percentage that's based in reality! Edited By Simon B on 28/06/2012 17:22:27 Quote Link to comment Share on other sites More sharing options...
Spice Cat Posted June 28, 2012 Share Posted June 28, 2012 Sad news. I've ordered a fair amount in the past and always found their service excellent. Quote Link to comment Share on other sites More sharing options...
Erfolg Posted June 28, 2012 Share Posted June 28, 2012 The minimum wage will not have you living in the lap of luxury. The LMS, to me closed some years back. The owner sited quite a high rent, this was compounded by very high business rates, additional waste charges for business, water rates for a tap, plus all the standards that you expect such as electricity. Of course then there was NI contributions as a sole trader. The overheads were very impressive. I could not see how any MS could sell enough to even break even. I had thought that Internet/distance trading could generate the volumes necessary to make a go of it. Seems not. As other contributors I have used Galaxy and have been satisfied by their service and price. Quote Link to comment Share on other sites More sharing options...
Simon B Posted June 28, 2012 Share Posted June 28, 2012 Agreed on the minimum wage. I work in our local LMS part time and I get this rate. I'd struggle if it was my full time wage, that's for sure. Galaxy is a corking shop, I just hope we don't lose any of our other great stores in the East. Quote Link to comment Share on other sites More sharing options...
Paul Marsh Posted June 28, 2012 Share Posted June 28, 2012 That's a shame. Galaxy are also one of the last UK Kit manufacturers, of which recently ordered a Magician kit to build later on. The web site is still up and running, but that could change in the new month... Could Ali buy it out, or at least keep something going? Quote Link to comment Share on other sites More sharing options...
JC Posted June 28, 2012 Share Posted June 28, 2012 Its a shame when any company goes out of business more so when it is one with Galaxy Models reputation. I hope it works out for them Quote Link to comment Share on other sites More sharing options...
Concorde Speedbird Posted June 28, 2012 Share Posted June 28, 2012 Is the actual store still open? They were on Monday, I phoned them up about something. CS Quote Link to comment Share on other sites More sharing options...
Peter Miller Posted June 28, 2012 Share Posted June 28, 2012 I was in there a week ago, never knew anything about it. I use them a lot, a quick phone call and the goods are here next day or the day after. Quote Link to comment Share on other sites More sharing options...
ron dudson 3 Posted June 28, 2012 Share Posted June 28, 2012 O DEAR Quote Link to comment Share on other sites More sharing options...
Concorde Speedbird Posted June 28, 2012 Share Posted June 28, 2012 Are they going to mention it in the next mag? My Domino is probably on of the last ones sold, really glad I got it. Check out my build log. The maiden flight will be happy assuming all goes well, and sad at the same time. I really hope they can somehow pull through. CS Quote Link to comment Share on other sites More sharing options...
Erfolg Posted June 28, 2012 Share Posted June 28, 2012 All is not lost, not yet. It has been pointed out that the business could well be sold on. I assume that Galaxy appointed their own administrators, and to some extent have some influence on how some aspects develop. Yet it does demonstrate to me that there are probably easier ways of paying the bills. I am not sure that the present business arrangements where there are distributors/ importers and then the LMS is a system that can continue indefinitely in this era. I expect more MS being importers from the Far east and also buying in directly, supplies from Graupner, Multiplex and various engine suppliers etc.,although i expect that many manufacturers will prefer to deal with national agents. Yet for this to work the logistics (and costings) become very important. I sense modelling retailing is at a cross roads. I am not sure that the two sets of mark ups can be sustained, if money remains tight. It will be fascinating to see how the model trade develops in the coming times. I do wish Galaxy models and their staff all the best, again. Quote Link to comment Share on other sites More sharing options...
Tony H Posted June 28, 2012 Share Posted June 28, 2012 That's a real shame, they used to be my local model shop 8 years ago (before I moved) I still buy lot's of their kit's and equipment, always good service and keen to help. I remember their old shop too. I hope someone helps them out. I have most of the Galaxy Kit's and was thinking of getting the Typhoon or Domino next. I hope this isn't the trend of things to come! Quote Link to comment Share on other sites More sharing options...
Paul Marsh Posted June 28, 2012 Share Posted June 28, 2012 I would recommend buying any Galaxy kits which you may want now, not waiting for later. Maybe after this, they may not be made anymore - so get yours now, while you can. Quote Link to comment Share on other sites More sharing options...
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