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Author Topic: The end of DJ Models?  (Read 19289 times)

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Offline Bealman

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Re: The end of DJ Models?
« Reply #75 on: June 05, 2019, 11:19:33 AM »
What I said, bottom of last page.

The company didn't work!
Vision over visibility. Bono, U2.

Offline Bob G

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Re: The end of DJ Models?
« Reply #76 on: June 05, 2019, 11:29:24 AM »
In my business (consultancy) every project has itís own P&L account so the project manager can keep tabs on revenue and spend within each project.
Projects go wrong when lead times stretch beyond those planned, as unplanned costs will always accrue - eg salaries and dividends.
I fear this is where everything went wrong but I doubt we will ever know (nor are we entitled to know) and this then leads into one project funding a previous one. Even big businesses are guilty of this.

Bob

Offline DCCDave

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Re: The end of DJ Models?
« Reply #77 on: June 05, 2019, 11:38:39 AM »
Indeed, to both the posts above the last one.

My post refers to the business, not the man, though in this case, I don't see how you could separate the two

Nope, with one man bands they are the same thing.

Cheers
Dave

Offline Bealman

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Re: The end of DJ Models?
« Reply #78 on: June 05, 2019, 11:44:31 AM »
Thank you, Bob.  :thumbsup:

Sorry for my naive attitude, but I see it as it is, just my opinion.

I wouldn't think about any venture like that if I couldn't manage it comfortably.

It's been mismanaged.
Vision over visibility. Bono, U2.

Offline Steven B

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Re: The end of DJ Models?
« Reply #79 on: June 05, 2019, 12:36:33 PM »
Whatever happens the N gauge market is not big enough for more than one developer to produce any loco other than a class 66. Iím not sure about the king. It still feels a bit niche even for GW modellers.

A King (30 built) is no more niche than an A4 (35 built), Merchant Navy (30 built) or a Princess Coronation (38 built). Farish felt there was a market for the Poole-era King and built & sold several thousand, before and after the Bachmann take over of the company.

If one were to be produced by Farish, Dapol or AN Other, then my guess is that it would sell well. DJ Model's could have sold well if it and other DJM models had been better managed. DJ Models promised lots but didn't deliver much - either actual models that could be bought and run, or visual progress that projects were going forward.

Duplication has happened before without manufacturers collapsing:
A4 - Farish & Minitrix
Class 47 - Farish & Minitrix
B17 - Dapol & Farish
Class 66 - Dapol & Farish
Class 220 Voyager - Dapol & Farish
(note I'm ignoring duplicates where the standard of the model was improved - e.g. Dapol A4, HST etc).

Personally, I feel there was little choice in Dave Jones' choice of models. They all could and should have sold well. When he left Dapol, Dave obviously thought he had the ability to manage the production of models without the back-office support he had at Dapol. Sadly that's proven not to be the case.

Steven B.

Online class37025

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Re: The end of DJ Models?
« Reply #80 on: June 05, 2019, 12:56:42 PM »
I see that Hattons are still listing the class 17 and class 23

https://www.hattons.co.uk/stocklist/3094212/1000589/1000635/0/dj_models_dave_jones_n_gauge_diesel_locos/prodlist.aspx

I sent this to them

do you feel you will still receive the class 17 and class 23 in N scale from DJ Models in view of recent announcements on line

the response was

Hi, we have not been given any information to say we will not be receiving our allocation from DJ Models. If we do get any feedback from DJ that they will not be supplying us with the models then we will let people know.

just for info
typed by fur box mechanic - dictated by brain on a chain

Offline Snowwolflair

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Re: The end of DJ Models?
« Reply #81 on: June 05, 2019, 12:57:40 PM »
DJ Models Ltd has now gone into administration and a notice will be appearing in the London Gazette in a few days. 

There will not be any immediate information available and I have been told it will be about three weeks before any visible actions. 

There have been a number of enquiries about the business and these will be pursued, however, as you would expect they cannot be more forthcoming than that. 

Expect a notice requesting creditors to contact them, but not yet, and their intent is also to make contact directly.

The Administrator contact is Mr Steven Mason, although he asks at this stage not to be contacted as there is nothing more he can say at this time.

Offline Cape Town Trev

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Re: The end of DJ Models?
« Reply #82 on: June 05, 2019, 01:07:59 PM »
I was thinking about this last night, and without wishing to be seen as trying to stir things up, a genuine question arose the answer to which I cannot reconcile.

IF there is little cash/liquidity left in the business, and no tooling has been started on any of the crowdfunding projects, what have deposits paid to date actually been spent on?

In the case of the King as an example, we know the research had already been done for the abortive Hattons model so new CADs were needed and we have seen a 3D printed dummy model from that, but if MOQ of 1000 were needed (and we know Digitrains' 200 got it over the line) that is circa 800 x £62.50 from crowdfunders which is £50k. If the factory has not yet been instructed to commence tooling has there really been any evidence of this amount all being spent, and if it has been, how was the second tranche of £50k when requested ever going to cover tooling costs reputed as being £100k, never mind production, shipping etc.

It just doesn't stack up to me, and based on this (unless I am missisng something which I could be) it feels like it should have been pretty clear to the company that there would not be enough cash in the pot after the second tranche to deliver this model.

The micro-accounts from July 2018 are too old to provide any clarity, so again, I am not saying my conclusions are necessarily correct but if they are not what am I missing??


Roy

Perhaps Dave saw the above situation or someone pointed it out to him and hence the help of an Administrator / Liquidator was sought.
I suspect cash was spent in dribs and dabs on legitimate expenses but as you point out the remaining cash became too little for the tooling cost.  So either ask for EXTRA cash from crowd funders or "close up shop".

The main stream manufacturers can spread their overheads over a larger base of models.  Dave was announcing ever more models and in some cases getting deposits for them but..............Peter could not pay Paul

Offline Karhedron

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Re: The end of DJ Models?
« Reply #83 on: June 05, 2019, 01:08:28 PM »
DJ Models Ltd has now gone into administration and a notice will be appearing in the London Gazette in a few days. 

Thanks for the info. For people who paid by credit card, does going into administration mean we can start the process of attempting to claim back from our credit card companies under section 75?
Well, that's just not good enough. Some fount of all knowledge you are!  :no:  ;)

Offline Snowwolflair

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Re: The end of DJ Models?
« Reply #84 on: June 05, 2019, 01:11:20 PM »
DJ Models Ltd has now gone into administration and a notice will be appearing in the London Gazette in a few days. 

Thanks for the info. For people who paid by credit card, does going into administration mean we can start the process of attempting to claim back from our credit card companies under section 75?

I have started by requesting forms from my card provider. 

The London Gazette notification is the evidence they should look for to confirm the legal situation.  the card provider will try and drag it out but you need to persist.

Offline austinbob

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Re: The end of DJ Models?
« Reply #85 on: June 05, 2019, 01:12:18 PM »
Don't know if anyone else has noticed but DJ website appears to be still accepting payments. Odd for a Company supposedly in administration?
 :hmmm:
Size matters - especially if you don't have a lot of space - and N gauge is the answer!

Bob Austin

Offline Bob G

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Re: The end of DJ Models?
« Reply #86 on: June 05, 2019, 01:13:33 PM »
Sorry for my naive attitude, but I see it as it is
Gut feeling is often the best guide in absence of other information

Offline Bob G

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Re: The end of DJ Models?
« Reply #87 on: June 05, 2019, 01:21:12 PM »
Whatever happens the N gauge market is not big enough for more than one developer to produce any loco other than a class 66. Iím not sure about the king. It still feels a bit niche even for GW modellers.

A King (30 built) is no more niche than an A4 (35 built), Merchant Navy (30 built) or a Princess Coronation (38 built). Farish felt there was a market for the Poole-era King and built & sold several thousand, before and after the Bachmann take over of the company.

Duplication has happened before without manufacturers collapsing:
A4 - Farish & Minitrix
Class 47 - Farish & Minitrix
B17 - Dapol & Farish
Class 66 - Dapol & Farish
Class 220 Voyager - Dapol & Farish

Personally, I feel there was little choice in Dave Jones' choice of models.

Iím thinking about todays market of £150+ models, not the kettles put out by Poole Farish, and the MN has not sold well.

And I think DJMs portfolio was ok if only it had delivered earlier on its promises.

Offline Cape Town Trev

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Re: The end of DJ Models?
« Reply #88 on: June 05, 2019, 01:24:48 PM »
Don't know if anyone else has noticed but DJ website appears to be still accepting payments. Odd for a Company supposedly in administration?
 :hmmm:
When you try to make the actual payment does it say something like "no payment method available"?  Someone on the RMWeb page said actual payment could NOT be made although the items are in the basket.

Just clarifying - or is the Administrator trying to run the company so as to sell it as a going concern - doubt it  :)

Offline eddief83

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Re: The end of DJ Models?
« Reply #89 on: June 05, 2019, 01:32:51 PM »
https://www.digitrains.co.uk/events/d-j-models-king-george-v/ Digitrains are saying they are in receivership now and their King model is cancelled

 

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