More bad news on the High Street – ModelZone are going into Adminstration.
“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”
Like Jessops and HMV, Modelzone is the sort of business that relies on people’s discretionary spending and is always at risk from being hit hard in a recession. And like them it’s in competition with online box-shifters who don’t have the overheads of maintaining an expensive high-profile retail presence.
I’m quite a regular customer of my local branch. Although they’re not perfect, with a fairly limited stock of N-gauge (They don’t stock Dapol’s range at all), as a supplier of things like scenic material they’d be greatly missed should the branch or indeed the whole chain not survive.