Jun 21, 2019

The 'chaos' that nearly derailed Hornby

The chief executive of Hornby has said the company was in "Chaos" when he took over almost two years ago. Hornby is best known for its model trains, but also owns Airfix and Scalextric. He pointed out that many Hornby customers are collectors and hobbyists. Phoenix Asset Management came to the rescue of Hornby in 2017, when it took a 75% stake in the firm. In 2018, Gary Channon, the co-founder of the investment firm, told the Financial Times there was no pressure on Hornby to make short-term profits.

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