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Wingnut Wings - The End?

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Seems to be a few rumours circulating the Wingnut Wings may be another victim of the Covid-19 closexown in NZ. Richard Alexander has seemingly responded to a post on an Oz based WW1 plane forum that things are not looking good for the company. Wod be a real shame, but goes to show the devestating impact the current crisis is having on everybody. Much rather lose a model kit producer than human lives, but sad news indeed if true.

 

Gary

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Guest DeanKB

Don't really see the need to close it permanently? Might be money, but PJ is absolutely loaded. Close the offices, furlough the staff, reduce all expenditures and wait it out for 3 months.

 

And why just shut it all up? Could it not be sold to, for instance, Tamiya? Or the same investment house who purchased Revell? The moulds are valuable assets, and there are many, many of them.

 

There must surely be something else to this story, because it is NOT making any sense to me. A three month cash-flow issue should not lead to businesses shutting their doors for ever.

 

(Unless its a pre-packed administration deal, where the company sells itself to, for instance, PJ. But he's already sole owner, so that makes no sense. Unless he IS selling it, closing the business down, writing his losses off, then the new buyer starts off where WNW stopped?)

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Guest DeanKB

I'd say its related to this, maybe toys being propelled from pram at near light speeds?:

 

MIL-OSI New Zealand: Media release on $41m annual subsidy for Weta Group

 

The Taxpayers’ Union is calling on Sir Peter Jackson to front up and explain the megabucks his company has been pocketing from taxpayers through corporate welfare subsides, and his company’s reported efforts to try and stop the public exposé of the payment amounts.
 
Responding to the NZ Herald’s reporting today, Jordan Williams said:
 
“No wonder Weta and Sir Peter Jackson wanted to keep this secret.  He has taken taxpayers for a ride.”
 
“This is the ultimate in socialism for the rich and blows to bits any arguments that subsidies make sense from an economic perspective.”
 
“For every job created, $25,000 per year of taxpayer money is being funnelled to Peter Jackson’s entities. The whole thing looks like a ruse.”
 
“In 2017, we exposed that the per household annual cost of the Government’s various corporate welfare schemes is $931.  These new figures show just how out of control this crony capitalism has become.”

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4 minutes ago, Gazzas said:

This would be a terrible kick in the guts if true.     But no point in getting into a tizzy just yet.  I still have four WNW kits in my stash.

 

oh no I,ve built most of mine, strange and stupid thing to do:D

 

(got FEE and Hassa in Stash.....I'll sell on Ebay and retire.....oh wait i am retired)

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Guest DeanKB

It'll be back in some form or another, just consider it a temporary reprieve for your wallets.

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23 minutes ago, DeanKB said:

It'll be back in some form or another, just consider it a temporary reprieve for your wallets.


I just completed my small WNW wants list using Sprue Brothers.  I could not shell out for the new Gotha kits. My c-card is still glowing.  I have been waiting for a long time for the Fokker triplane and I guess I can wait a bit longer...or buy one from Roden and deal with its short comings.

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Posted (edited)

http://www.wingnutwings.com/ww/news

 

These days what you hear or read believe only 5% of it. Newspapers today sometime do not print the whole truth about any situations. They like to sensationalize a lot of things. WnW could simple figured that currently getting things in or out is a hassle plus they could be like everyone else working from home office wise that is. Unless there is an official statement from the company believe nothing. One question to answer why is where do they get their tooling and molding done? That could be the reason why they stopped operations for now

 

Hacker 

Edited by Hacker

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45 minutes ago, Hacker said:

http://www.wingnutwings.com/ww/news

 

These days what you hear or read believe only 5% of it. Newspapers today sometime do not print the whole truth about any situations. They like to sensationalize a lot of things. WnW could simple figured that currently getting things in or out is a hassle plus they could be like everyone else working from home office wise that is.

 

This is true, however do take this into consideration:

 

If you follow the link in post #2 to the WW1Aircraftmodels forum, you'll find this information from Richard Alexander

 

Quote
Richard Alexander, General Manager of Wingnut Wings has responded to the Forum request for an official comment on what is happening with the business right now and the reports it is being closed down permanently.

He says: " Nothing is finalized yet but it looks pretty grim. Very sad. I hope you understand that I have nothing else I can say at this time."

It's understood final decisions on the future of the company will be made in the next week or so.

Dave Wilson
Gold Coast
Australia
 

 

Dave Wilson and Richard Alexander communicate with each other. Let's hope the decisions are around where and how models are made rather than if they continue at all. There are people likely to lose their jobs in NZ

 

Richard

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Apparently Richard Alexander replied to a direct inquiry regarding the future of WNW:

 

Richard Alexander, General Manager of Wingnut Wings has responded to the Forum request for an official comment on what is happening with the business right now and the reports it is being closed down permanently.

He says: " Nothing is finalized yet but it looks pretty grim. Very sad. I hope you understand that I have nothing else I can say at this time."

It's understood final decisions on the future of the company will be made in the next week or so.

Dave Wilson
Gold Coast
Australia

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I see RLWP and I posted the same thing at the same time.    

 

Sorry to see WNW go if that happens, but grateful for their attention to detail and raising the bar for the kits they did produce.  I still have the Green Tailed Trilogy, Albatros Jasta 5 and Albatros DV Manfred  von Richthofen in my closet.

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