There are reports from the UK that Eaglemoss publisher has filed a letter of intent to appoint an administrator.
A beloved company behind some of the best science fiction models in the market today are staring at major financial challenges, according to a report.
On July 12, Eaglemoss Limited reportedly filed a “Notice of Intention” with the courts at its home in the United Kingdom, declaring its plan to go into administration. This is according to Greg Connell, Managing Director of Business Publications Info link Gazette, which oversees such filings with the UK Supreme Court. Connell added that Eaglemoss turnover had peaked at £68m, but had fallen to £31.6m in the most recently filed accounts.
Although it has been filed in the UK courts, a Notice of Intention is not a bankruptcy petition. Instead, this is a path that allows companies to submit to an administrator to clean up their finances, pay their creditors and avoid liquidation. Eaglemoss could come out of this process intact, or if the reorganization proves unsuccessful, the sale of its assets is in the future.
While this groundbreaking story is based on a single source so far, Bleeding Cool says they’ve confirmed the message through their own (unnamed) sources.
Eaglemoss has not yet publicly commented on the reports and customer service has remained closed. While the company’s main websites are still online, the store has been offline for about a week now (in the midst of a sale). There is a message on the site that maintenance is being performed. Eaglemoss’ Twitter accounts have also been quiet in the days since the filing.
There are also reports based on the same source: Bleeding Cool and Daily Star Trek News.
There is also plenty of discussion on social media about this, but nothing from the company itself yet.
The fact that their online store is not taking orders is an indication that something is up. I checked it out using a VPN to put me in the UK:
It’s a story to watch given the inconsistency of Eaglemoss partworks delivery in Australia, and given their recent announcement that they are swapping retail for a direct-to-consumer model for at least one major title.