Hornby Quits London Stock Market, Reverts to Private Status

Hornby, the model train manufacturer, has announced its decision to delist from the London Stock Exchange's Alternative Investment Market (AIM) and transition to a private company. This move, which the company believes will enhance decision-making and expedite its restructuring efforts, comes as it faces a significant decline in share price and ongoing operational challenges. Hornby has been publicly traded since 1986 but cited annual costs of approximately £400,000 associated with remaining listed as a key factor in its decision. The company aims to focus on operational management and strategic execution without the regulatory burdens of being publicly traded. The hiring of retail tycoon Mike Ashley as an adviser, who holds an 8.9% stake in Hornby, has also influenced this shift towards privatization. Hornby's recent operational changes include cost-cutting measures and new product offerings to attract customers.