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Little Loco Company for sale

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Dear all.

 

Over the past few months I have been unable to progress any Little Loco Company projects due to personal reasons. I have now come to the realisation that I can no longer continue to operate LLC and I'm inviting offers among the model railway community for the sale of the business in whole or part. Please feel free to share this statement.

 

Offered for sale is a complete tooling set (injection moulding and die-cast) for the Ruston 48DS in two styles ready for production, costing over £140,000 in total for machining, EDM on all parts, and developmental testing. In addition, the Class 22 is fully developed and ready for tooling, incorporating many novel features and systems that have been designed to be marketed separately and feature in future models. Tooling costs can be considerably reduced by removing this system-level approach.

 

I am open to offers for the business as a whole or just the rights and tooling for the Ruston, along with the Class 22 development work. Serious offers or request for further information to [email protected] – I am happy to act as a free consultant to ensure the sale and project continues as smoothly as possible.

 

I have received many emails and messages recently, and I have read them but I've not had the wherewithal to respond. Any personal messages can be sent to [email protected] please. I may not be able to respond to all but I will read them.

 

My sincere apologies and kindest regards,

Steve

 

 

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Wonder what will happen to the crowd funders for the class 22???? 

Edited by mervyn
stupidity

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I wouldn't jump to any conclusions.  Steve clearly says this move is because of personal, not financial reasons, an he is looking to sell as a going concern.  Wait and see would be my advice - speculation really doesn't help matters in these things.  

 

As an aside if Steve is reading this, I know its been a rollercoaster ride with ups and downs, but personally I am sorry he's reached this decision.  There was the potential to do so much good for the 7mm community.  All the best for the future, and I hope that LLC can be sold to somebody or an organisation with the same kind of values.

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Yes thanks for that lets hope he does get it sold ,and the new owner honours the crowdfunding arrangement ...

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7mm

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In these circumstances, is sale the only/best option?

 

It may be more likely that someone could be found to take forward these projects, especially at such an advanced stage, on a partnership basis.

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1 hour ago, mervyn said:

Yes thanks for that lets hope he does get it sold ,and the new owner honours the crowdfunding arrangement ...

 

I am not familiar with the details of this particular crowdfunder. But the implication appears to be that the new owner would not be expected to pay anything for the completed CAD work - in exchange for honouring the arrangement with existing customers.

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I'm sad to hear that you can't progress with Little Loco Co. I hope that you get a good offer on the acquisition of the assets and intellectual property.

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Very sad to hear this. I am very pleased with the models I have from them

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21 minutes ago, Rcd said:

Quote removed - libellous

A bit harsh?

Until you know the full circumstances you can't judge.

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5 minutes ago, Rcd said:

Bit harsh, bit harsh ! are you mad? he given us the run around since Christmas, does he owe you nearly 2K ? bet not, age experience tell me he's now a wrong un, and I'm after him. 

You're entitled to your opinion but your first ever posting to the Forum was a bit strong, there are probably better ways you could explain your predicament without using words that might end you up in trouble.

 

If you do have information that may contradict what has been shared so far I would suggest you link up with @AY Mod and share with him first that way you'll have the mods onside.

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Just now, woodenhead said:

If you do have information that may contradict what has been shared so far I would suggest you link up with @AY Mod and share with him first that way you'll have the mods onside.

 

Too late; he's already got up my nose.

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1 hour ago, AY Mod said:

 

Too late; he's already got up my nose.

 

Just remind us again why you do this: It’s for the love, right?

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Whilst I can understand some of the concerns raised by some on these Forums, no one can really do anything without information coming from LLC direct. 

 

Mr. Leathers has another Business - shares Directorship with another - called Kitpart Limited (Company number 11138977) - I wonder if this holds the IPR and tools for the Class 15, as that product is not mentioned in the sales notification for LLC.

 

I also seem to recall when LLC presented a cheque to the Class 15 PG there were at least two other gentlemen mentioned as being 'involved' in LLC, but there is only one declared Officer of LLC.  Perhaps these were financial backers of LLC. If so they may have an agreement that in an event such as this they take ownership of certain assets.

 

No one likes to hear of any Business being in difficulties, but clearly openess - even if the update is that X interested parties have contacted LLC - is better than silence which will only induce speculation and even wishes to seek refunds through various means.

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Mr Leathers was also the sole director of another company called Citrus DM Ltd Company number 07420392, which is listed as an "Advertising Agencies" by Companies House. This company was dissolved by compulsory strike-off on 12 April 2016. The last set of accounts for this company were 31 October 2013. Unless we start to get some news soon, I am thinking about bringing this case to the attention of BBC Radio 4's Moneybox programme, which is always interested in crowd-funding. 

 

CT

 

 

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Hi all, As many of you will be aware I was the designer for Little Loco Company but had no financial, business or manageable stake in it - I was only a contractor. We had started to set up another company which my husband and Steve were partners on ( Kitpart ), this never did anything really as you can see by the fact it is Dormant and it will be removed completely at some point soon. I cant answer for Steve not answering communications he has not been in a great place since he become ill and he also has a young son to deal with as well, so contact is some what sporadic with him. I  too have been quite heavily affected by all this having given up my own work and small business to concentrate solely on LLC last year, and have had to suddenly swing everything right round at some cost to reboot that again. That is pretty much all I can put forward for you at this moment, and I know he does intend to get things sorted out but that his personal life has really got in the way of everything. 

 

Nikki 

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