Hornby’s slow track demise

SHARES in model train maker Hornby crashed 9.3pc as it struggled to convince its shops to put trust in its new strategy.

The 117-year- old company has been trying to recoup losses by offering smaller discounts on large orders of model train sets.

Best-known for its model railways and Scalextric car race tracks, it said it had received ‘overwhelming support’ for the strategy, but some outlets had not been keen.

New products failed to lure customers over Christmas.

Lyndon Davies, interim chairman, said: ‘Whilst we are excited about the products we have in the pipeline, it will take time for the new products to come through and for the trust to be fully rebuilt.

‘The change in strategy has meant Christmas trading was tough.’