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27 Jun 2013 14:00
Statement Re: Modelzone
The Board of Hornby Plc notes that the retail group Modelzone has appointed Deloitte as administrator. Modelzone is an important business partner and although the news of the administration is disappointing our account management team has been well abreast of Modelzone's challenging trading situation and has been able to manage our financial exposure at an acceptable level.
Hornby has a wide, multi-channel distribution platform, which it is continuing to broaden. In the UK, Hornby supplies over 700 independent model shops, national retail chains as well as selling direct to consumers via its online platform.
A further update will be made in due course, when more details are known about the outcome of the administration.
-ends-
Date: 27th June 2013
For further information contact:
Simon Courtenay
Broker Profile
Tel: 020 7448 3244
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