By Jon Robinson Hornby, the international models and collectables group advised by billionaire Frasers Group founder Mike Ashley, has announced the sell-off of a loss-making part of its business and the departure of its former chairman. The Kent-based listed company, in which Frasers owns a stake, has announced the LCD Enterprises is to be sold to EKD Enterprises, a company owned by former Hornby chairman Lyndon Davies and his family for around £1.38m. As a result of the deal, the Oxford Diecast brand will no longer be part of the Hornby portfolio. Oxford Diecast made a pre-tax loss of around …