Originally Posted by
Halcyon66
Futaba is probably going to take a huge hit on the $$ Hobbico owes them, Hobbico announced it has over 100 mil in debt and it is mostly unsecured. The problem with these collapses is it is just not one company that goes under, all the guys that Hobbico owes money to could have a very rough time.
Don't forget about the employees that probably had retirement and stock that will take a hit as well.
All not good
Regards,
Bankruptcy documents online show Hobbico owes Futaba roughly $2.2 million, a mere drop in the bucket for Futaba. Most of you have no idea how large a company Futaba is and the RC segment is just a tiny portion of their company.
$2.2 million is probably one shipment of product to Hobbico. New Futaba systems coming into stock at Tower indicates to me Futaba is not concerned about the Hobbico situation at this time. The top 30 vendor/debts are probably not concerned either as they undoubtedly have had a strong working relationship with Hobbico and will work with them for delayed payment. If Hobbico unlikely closes shop, those large vendors will move on. Small vendors will feel the hit hardest.