[modeleng] Re: Model Egineer # 4263 & 4264
- From: "alan stepney" <alan@xxxxxxxxxxxxxxxx>
- To: <modeleng@xxxxxxxxxxxxx>
- Date: Wed, 8 Feb 2006 21:02:02 -0000
From what I have read and ehard about the ME / MEW situation, in many ways I
am surprised they have managed to get ANY issues out in a reasonable time.
The old owners, Highbury House, is in Administration, which is one (small)
step from bankruptcy.
The new company has bought the titles to the model magazines, but I
understand that they did NOT buy any part of the old company. To have done
so would probably have involved them in accepting some liabilities, so it
would have been foolish to do so.
They then employed / re-emplied all, or the majority, of the staff who had
previously worked on ME / MEW / Model Boats (I believe) plus I think there
was another magazine in the package.
They also appear to have accepted the liability for all remaining
subscriptions.
That makes good business sense as I am sure they dont wish to alienate all
their potential customers.
However, they had no actual NEED to do so, and could have told everyone to
claim from the liquidation.
(Fat chance !!)
The obvious downside is that they would have lost many customers, which is
an excellent reason for them trying to satisfy everyone if they can.
As for back issues (before they took over), I have no idea what stocks they
may have bought, but it was probably very little. I gather that some of the
printers (HH used several) cut back on deliveries as they were concerned
about getting paid.
As for the future, according to the Administrators, the model magazines were
profitable, so now they dont have to support other magazines which were not,
they should be able to keep running and give better service.
No doubt it will take time for them to get properly organised, (having been
in some similar situation, it takes longer than one imagines) but I believe
that the future prospects are good.
As one example, I have heard that they have retained the exhibition
organisers and are already planning future exhibitions, which I feel is a
good sign.
Alan Stepney
http://www.alanstepney.info
Model Engineering & steam engine information pages
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