Industry News

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By Nick Bullock
Published: April 5, 2012
Online hobby retail websites and announced last night their closing effective 11:59 p.m. Central Time, Wednesday, April 4.

The companies, both owned by Peterson Manufacturing, announced their closing via their website and an email newsletter to customers.

“We’ve been struggling since 2008,” Director of Marketing Russ Dickey said.

The decision to close down operations so abruptly was not the original plan, he said.

“The management team was given notice of these events only hours before you have been given notice,” the email notification read. “We are truly sorry.”

Dickey said had a much longer liquidation plan. “We were going to go out with some style and some class, but (Peterson Manufacturing) had other ideas,” he said. “They must have done the math on what we proposed to liquidate over a 60-to-90-day period.”

Dickey said he didn’t place too much blame Peterson Manufacturing, as the parent company had struggles of its own. Peterson had been trying to sell since late last year, he said, but had been unsuccessful.

“The economy, if it is recovering as everyone says it has, it’s not trickling down to the die-cast and hobby industry yet,” Dickey said.

Orders placed with and before the announcement will be fulfilled and orders not yet received with will be shipped, according to the email.

Customers with items consigned by will see all unsold items returned at the company’s expense. Payment for items sold in March will be mailed by today, and payment for items sold in April will be mailed by April 30.

Customers with questions can contact