Statement re: Modelzone

RNS Number : 0270I

Hornby PLC

27 June 2013

 



Statement Re: Modelzone

The Board of Hornby Plc notes that the retail group Modelzone has appointed Deloitte as administrator.  Modelzone is an important business partner and although the news of the administration is disappointing our account management team has been well abreast of Modelzone's challenging trading situation and has been able to manage our financial exposure at an acceptable level.

Hornby has a wide, multi-channel distribution platform, which it is continuing to broaden. In the UK, Hornby supplies over 700 independent model shops, national retail chains as well as selling direct to consumers via its online platform.

A further update will be made in due course, when more details are known about the outcome of the administration.

-ends-

Date: 27^th June 2013

For further information contact:

Simon Courtenay

Broker Profile

Tel: [phone]

 

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