Strip off the old covering and use the K2R again to fix up the wood. To get the covering to stick put on a coat of Balsarite. Let it dry for a few hours even though it will feel dry after 5 minutes.
K2R can be found in a grocery story or at Wallmart or any other place in the household cleaning section.
If getting the covering to match is a problem perhaps give it a different colored nose on the fuselage.