Future looks bleak for iconic model-maker Airfix.THE future of model-maker Airfix was in doubt yesterday, after its parent company went into administration. The plastic kits of Spitfires, Hurricanes and Lancaster bombers The Lancaster Bombers are a member of the British Collegiate American Football League (BCAFL)'s Northern Conference-Western Division. Though the Bombers have been a consistent competitor throughout their tenure in the BCAFL, they have yet to see consistent success in the postseason. , which enjoyed their heyday in the 1960s and 1970s, have fascinated children for almost 60 years. But last night 31 staff out of 41 were made redundant at its parent firm, Humbrol, after it went into administration due to "severe cash flow pressures" and also a disruption in supplies from its principal manufacturer in France. Fans were concerned that this could signal the end of the historic brand, although administrators said that they were still looking around for a b u y e r. Jeremy Brook, of the Airfix Collectors Club, said it was a sad day for British youth. "When you think of construction kits, you think of Airfix," he said. "All the schoolboys of the '50s, '60s and '70s remember them, being covered in glue and cutting your fingers as you assembled them. "It's a great shame if Airfix is going to languish or go completely." Accountancy firm Grant Thornton, in Leeds, was appointed administrator yesterday to Hull-based Humbrol. Administrator Keith Hinds said Humbrol, which also owns Plasticine and Young Scientist, had suffered trading losses The following contains a list of trading losses which eventually forced major corporations to go bankrupt or restructure parts of their organisation. This list is not exhaustive. for several years. A new management team was brought in last December to restructure the business, but a disruption to supplies brought about by the insolvency of its principal manufacturing supplier, Heller SA Heller SA is a French company that produces plastic scale model kits of aircraft, cars, and ships. As of July 21, 2006 the company is in the French equivalent of administration (Redressement Judiciare). History Heller was founded in Paris in 1957. , in France, meant Humbrol could no longer continue. Mr Hinds said: "As a consequence of the uncertainty of product supply, deliveries to customers are being limited to dispatches from current stock lines and ongoing trading is extremely restricted. "The brand names and intellectual property of the business was potentially very valuable," he said, adding that he was "looking to sell these to a potential investor who may be able to invest in and develop these iconic brands". CAPTION(S): An Airfix scale model of a Buccaneer buccaneer: see piracy. buccaneer Any of the British, French, or Dutch sea adventurers who chiefly haunted the Caribbean and the Pacific seaboard of South America during the latter part of the 17th century, preying on Spanish settlements and shipping. jet, in a ModelZone shop, in central London The term Central London refers to the districts of London which are considered closest to the centre. There is no such conventional definition, nor any official one, for the entire area that can be called "central London". . The future of model-maker Airfix was in doubt yesterday after its parent company went into administration |
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