Fun, Learning, Friendship and Mutual Respect START  HERE


Unregistered
Go Back   HeliFreak > R/C Helicopters > Main Forum - Helicopter Talk


Main Forum - Helicopter Talk R/C Helicopters and the people who fly them. VENDOR TOPICS DO NOT GO HERE. Full Scale Heli threads go in OT please


Like Tree39Likes
Reply
 
LinkBack Thread Tools Display Modes
Old 06-21-2018, 09:48 AM   #1 (permalink)
Registered Users
 
Posts: 1,834
 

Join Date: Jan 2011
Default Fast Lads gone under??

I know the website says its is down for repairs but under the UK Govt's Companies House it looks like that they started winding up procedures 3 months ago. Looks like it has come to fruition. Hmmmmmm. Sad for them.
__________________
Logo 700, Logo 600, Protos 380 Evo, Trex 470L, Jeti DS-16, TT Raptor 50 nitro, couple of planks and lots of laughs
Carapau is offline        Reply With Quote Quick reply to this message
Sponsored Links
Advertisement
 
Old 06-21-2018, 10:28 AM   #2 (permalink)
Registered Users
 
Posts: 7
 

Join Date: Oct 2010
Default

Very sad, I did notice very limited stock over the last few weeks.


Sent from my iPhone using ESP.
baztrene is offline        Reply With Quote Quick reply to this message
Old 06-21-2018, 10:31 AM   #3 (permalink)
HF Support
 
Posts: 41,331
 
My HF Map location
Join Date: Jul 2007
Default

CVA sounds similar to Chapter 11 in the US. It just means they're reorganizing their debt. Many US companies have gone into Chapter 11 and come back out after settling with their creditors. Of course, others have gone out of business.

That said, it does no good to start rumors of a company shutting its doors. If they come out with an official statement of closure, then that's a different story.
__________________
Alan (just call me "Bum"; no need to be so formal)
HeliFreak Support
Protos Max Evo 700 (Brain 2), Protos Max V2 770 (iKON 2), Synergy 516 (Brain 2), Oxy 2 (Falcon 12)
Graupner MZ-32

Experience is something you gain only after you need it.
I wouldn't mind social media so much if it didn't involve people.
TheBum is offline        Reply With Quote Quick reply to this message
Old 06-21-2018, 11:00 AM   #4 (permalink)
Registered Users
 
Posts: 1,834
Thread Starter Thread Starter
 

Join Date: Jan 2011
Default

Maybe I am starting a rumour, but unlike others this one is backed up with fact from the official source. CVA- they have closed their doors. It may be temporary but £348,000 in debt is not a small mountain to climb if they want to reopen.
__________________
Logo 700, Logo 600, Protos 380 Evo, Trex 470L, Jeti DS-16, TT Raptor 50 nitro, couple of planks and lots of laughs
Carapau is offline        Reply With Quote Quick reply to this message
Old 06-21-2018, 12:12 PM   #5 (permalink)
HF Support
 
Posts: 41,331
 
My HF Map location
Join Date: Jul 2007
Default

Quote:
Originally Posted by Carapau View Post
Maybe I am starting a rumour, but unlike others this one is backed up with fact from the official source. CVA- they have closed their doors. It may be temporary but £348,000 in debt is not a small mountain to climb if they want to reopen.
Chapter 11 entities are allowed to keep doing business while they reorganize their debt. I saw nothing in the CVA description that indicated a company had to shut down during the process. Hence, their shutting down is still a rumor.
__________________
Alan (just call me "Bum"; no need to be so formal)
HeliFreak Support
Protos Max Evo 700 (Brain 2), Protos Max V2 770 (iKON 2), Synergy 516 (Brain 2), Oxy 2 (Falcon 12)
Graupner MZ-32

Experience is something you gain only after you need it.
I wouldn't mind social media so much if it didn't involve people.
TheBum is offline        Reply With Quote Quick reply to this message
Old 06-21-2018, 12:54 PM   #6 (permalink)
Registered Users
 

Join Date: Nov 2013
Location: Aberdeen, UK
Default

It may be still a rumour but it's one with a lot of circumstantial evidence. The CVA, the fact that their web site is down, even their eBay listings are all closed. I was at the Helifest meet on the weekend and the story there from reputable sources were that Fast Lad had gone under, the simple fact that they were not represented at the biggest UK heli meet of the year in itself adds to the case.

Just like you cant expect someone to confirm their own death you cant really expect Fast Lad to confirm their own bankruptcy. Lack of denial is the best you will usually get.

Not sure how this effects Experience RC in the US, they are one in the same company as i understand it. I note that Experience have no stock of new helis at all.
__________________
Gob Kraken |Gob 700 BT 'T' | Gob 770 Comp | Gob 700 Speed | Trex 700X | SoXos Strike 7| Tarot 600| | XLPower 700 | Henseleit TDR & TDR2 | Kasama Dune | UK distributor for Tarot 550/600 helis - ScotiaRC.co.uk
Smoggie is offline        Reply With Quote Quick reply to this message
Old 06-21-2018, 01:41 PM   #7 (permalink)
Registered Users
 
Posts: 6,068
 

Join Date: Sep 2014
Default

Well crap, I've ordered a few hard to get things from there in the past and have always gotten it pretty quick considering I'm in CA. Sorry to hear, hopefully they can pull out of it.

Sent from my SM-N950U using Tapatalk
Martinshelis likes this.
mattbeau is offline        Reply With Quote Quick reply to this message
Old 06-21-2018, 03:17 PM   #8 (permalink)
Registered Users
 
Posts: 1,834
Thread Starter Thread Starter
 

Join Date: Jan 2011
Default

Im not sure how CH11 differs from CVA but in UK if under CVA you can only continue to trade if 75% of the creditors agree to you continuing. A closed website and other news out there would suggest they are not coming back anytime soon. I would be delighted to be proven wrong but I just dont see this ending well.
__________________
Logo 700, Logo 600, Protos 380 Evo, Trex 470L, Jeti DS-16, TT Raptor 50 nitro, couple of planks and lots of laughs
Carapau is offline        Reply With Quote Quick reply to this message
Old 06-21-2018, 04:51 PM   #9 (permalink)
 
Posts: 11,354
 

Join Date: Mar 2007
Default

Andy and the guys are the very best, donating full heli's to competition pilots suffering at shows, to keep them from dropping out,,,,,, You had to be there to feel their support.



If anything the heli market failed Them, certainly wasn't the other way around,,,,, georgi,,,,,,
Buellit, trillian and Cman like this.
__________________

georgi UK is offline        Reply With Quote Quick reply to this message
Old 06-21-2018, 05:29 PM   #10 (permalink)
Registered Users
 
Posts: 995
 

Join Date: Jun 2008
Default

Quote:
Originally Posted by Grumpy_Old_Man View Post
(snip)
Not sure how this effects Experience RC in the US, they are one in the same company as i understand it. I note that Experience have no stock of new helis at all.
I've been on an email notification for when they get new chronos kits in stock for months now. Hopefully experience doesn't disappear, but as of now it looks like compass hitched their wagon to the wrong horse by picking them as a distributer. It's a shame too, compass has been plagued for years by stuff like this, which really turns people off of them for fear of parts support - short or long term.

It's a double edged sword: consumers won't buy unless they feel confident in brand longevity, but a brand cannot survive if people don't buy their products.
cbrian4 is offline        Reply With Quote Quick reply to this message
Old 06-21-2018, 07:42 PM   #11 (permalink)
Registered Users
 

Join Date: Dec 2015
Location: Bristol, England, United Kingdom
Default

Quote:
Originally Posted by georgi UK View Post
Andy and the guys are the very best, donating full heli's to competition pilots suffering at shows, to keep them from dropping out,,,,,, You had to be there to feel their support.



If anything the heli market failed Them, certainly wasn't the other way around,,,,, georgi,,,,,,
+1

Sent from my SM-G920F using Tapatalk
denis747 is offline        Reply With Quote Quick reply to this message
Old 06-21-2018, 08:40 PM   #12 (permalink)
Registered Users
 

Join Date: Jan 2016
Default

Quote:
Originally Posted by cbrian4 View Post
Hopefully experience doesn't disappear, but as of now it looks like compass hitched their wagon to the wrong horse by picking them as a distributer.
Or perhaps it's the other way around, if you follow what's going on, or not going on, with Compass.

Too much speculation and not enough facts on any of this stuff. (Although I put OP's original info about the CVA filing in the category of reasonable facts to share.)
__________________
Compass Atom 5.5; Oxy 2/3/4
XK K110 K120
Wargamer is offline        Reply With Quote Quick reply to this message
Old 06-21-2018, 09:04 PM   #13 (permalink)
HF Support
 
Posts: 41,331
 
My HF Map location
Join Date: Jul 2007
Default

I started to comment about the Compass curse. The last two distributors (Nankin/ProStar and Experience RC) havenít come out too well.
TheBum is offline        Reply With Quote Quick reply to this message
Old 06-21-2018, 09:30 PM   #14 (permalink)
Registered Users
 
Posts: 3,169
 

Join Date: Mar 2012
Location: Wauwatosa, WI
Default

I think it depends on how the shops are run. Look at Only Fine Helis. Had DT helis which closed shop and is now (at least from the outside) stronger than ever before.
__________________
P Max v2, G570, N556, S516, P380, XK K110, Open-TX
JWeber is offline        Reply With Quote Quick reply to this message
Old 06-22-2018, 01:48 AM   #15 (permalink)
Registered Users
 

Join Date: Nov 2013
Location: Aberdeen, UK
Default

Quote:
Too much speculation and not enough facts on any of this stuff. (Although I put OP's original info about the CVA filing in the category of reasonable facts to share.)
Seems like there are an abundance of facts. CVA filed, web site closed for last couple of days, eBay listings closed, non appearance at UK HeliFest, phone calls not answered, no denial issued.... Itís hard not to draw conclusions.
__________________
Gob Kraken |Gob 700 BT 'T' | Gob 770 Comp | Gob 700 Speed | Trex 700X | SoXos Strike 7| Tarot 600| | XLPower 700 | Henseleit TDR & TDR2 | Kasama Dune | UK distributor for Tarot 550/600 helis - ScotiaRC.co.uk
Smoggie is offline        Reply With Quote Quick reply to this message
Old 06-22-2018, 01:50 AM   #16 (permalink)
Registered Users
 
Posts: 335
 

Join Date: Aug 2014
Default

that's sad news ... let's hope they come out of this.
__________________
Oxy3, Goblin 380kse, 500s, 570, 700, 770 and T-rex 700 night & Dx9/V-control
badgravity is offline        Reply With Quote Quick reply to this message
Old 06-22-2018, 02:03 AM   #17 (permalink)
Registered Users
 

Join Date: Nov 2013
Location: Aberdeen, UK
Default

FWIW the owner of FL Chris, made a post on the RCHelifreak UK site late last night which I understand was a rant but basically confirming the closing of the business. Unfortunately he deleted the post an hour later claiming his account was hacked.
__________________
Gob Kraken |Gob 700 BT 'T' | Gob 770 Comp | Gob 700 Speed | Trex 700X | SoXos Strike 7| Tarot 600| | XLPower 700 | Henseleit TDR & TDR2 | Kasama Dune | UK distributor for Tarot 550/600 helis - ScotiaRC.co.uk
Smoggie is offline        Reply With Quote Quick reply to this message
Old 06-22-2018, 05:28 AM   #18 (permalink)
Registered Users
 

Join Date: Jun 2016
Default

Lol, I have seen that post, didnít look like a rant, looked like someone being particularly caustic - Iím not surprised he said his account was hacked, certainly looked like it!

Itís a shame, sad for FLP and sad for the industry. Distribution is a very difficult game, cash flow is king and margins are extremely tight


Sent from my iPhone using Tapatalk
AndyO is offline        Reply With Quote Quick reply to this message
Old 06-22-2018, 05:39 AM   #19 (permalink)
Registered Users
 

Join Date: Mar 2015
Default

Never saw the post, but if his confirmed it then fair doos
__________________
700N MJ DTS VX1N, Logo 690SX - VX1e, 780L Top - VBar Neo, 700L Top - VX1n, Logo 550SX - VX1n, Goblin 570 (6s) - VX1n, Trex 550E Pro DFC - VX1n, Trex 450L Dominator (6s) - VX1n, Trex 450 Plus DFC - VX1n, JETI, DX9, Pheonix R/C, AccuRC, neXt
99100 is offline        Reply With Quote Quick reply to this message
Old 06-22-2018, 09:11 AM   #20 (permalink)
Registered Users
 

Join Date: Jan 2016
Default

Quote:
Originally Posted by Grumpy_Old_Man View Post
Seems like there are an abundance of facts. CVA filed, web site closed for last couple of days, eBay listings closed, non appearance at UK HeliFest, phone calls not answered, no denial issued.... Itís hard not to draw conclusions.
I was referring to the suggestion that Compass had made a bad decision to go with Experience/Fast Lad as a distributor, or more generally, who was getting the bad end of that deal. But perhaps that wasn't obvious. As I mentioned, I thought the facts you mention above certainly qualify as useful facts to share.
__________________
Compass Atom 5.5; Oxy 2/3/4
XK K110 K120
Wargamer is offline        Reply With Quote Quick reply to this message
Reply




Quick Reply
Message:
Options

Register Now

In order to be able to post messages on the HeliFreak forums, you must first register.
Please enter your desired user name, your REAL and WORKING email address and other required details in the form below.
User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself. Use a real email address or you will not be granted access to the site. Thank you.
Email Address:
Location
Where do you live? ie: Country, State, City or General Geographic Location please.
Name and Lastname
Enter name and last name here. (This information is not shown to the general public. Optional)
Helicopter #1
Enter Helicopter #1 type and equipment.
Helicopter #2
Enter Helicopter #2 type and equipment.
Helicopter #3
Enter Helicopter #3 type and equipment.
Helicopter #4
Enter Helicopter #4 type and equipment.

Log-in


Thread Tools
Display Modes

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On




Copyright © Website Acquisitions Inc. All rights reserved.
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2020 DragonByte Technologies Ltd.

SEO by vBSEO 3.6.1