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Hornby, the company that makes model trains, Airfix kits and other modelling brands has come off the rails in recent years. There have been profit warnings, a rescue fund raising and wholesale management changes. The new boss, Lyndon Davies, tells Today he found lots of problems when he arrived.
Bosses didn't know what they didn't know, he says - the curse of all troubled firms.
"At a senior level it didn't really understand the markets it was in. Hornby isn't a toy company, it's a collector company," he says.
Toys and hobbies will continue to be important, even as computer games become more sophisticated, because families want shared expriences, he says.