Over the past few weeks, there has been a lot of misinformation spread or published with regard to Model Power.
We know that much has changed over these past few weeks, and it will continue to do so in the near term. As our situation becomes settled, we will make this information available to the public. Thanks for all the support and patience.
We will not be accepting new retail orders or
customer service request. We are trying to do our best to resolve ALL
existing issues/returns/repairs that are currently in house. Our
customers were loyal, and deserve this. Please be patient.
Dear Model Power Customers,
After nearly 50 years serving the hobby industry, our 3rd generation family business will be closing effective immediately to the public. We will be reaching out to our clients over the next few weeks to settle any demand needs that they may have.
In 2007, our banks began an aggressive deleveraging process. They no longer
approved of a profitable and paying client such as ours, which had been reliant on inventory. This is why one of the industry's most extensive lines, had begun to see much of its products unavailable on the market. Now it will no longer be seen at all.
During these past 7 years, we had made changes to the business in order to accommodate and adjust to the changing nature of the business relationship with our lenders. We had offered multiple solutions to our lenders in order to "fix" our situation, all were rejected, came with different restrictions, or offered too little too late. In all our efforts, no arrangements by our lenders would allow for Model Power to arrive at a position in which we could get back to fill our customer needs.
We would like to take the time to thank all of those whom we have worked with the past 50 years. To our customers and competitors within the industry, we thank you.
The Model Power Family