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Thread: MEC in reecievership
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09-14-2020, 05:21 PM #1Registered User
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MEC in reecievership
I know many of my fellow Canuckians used to anticipate the MEC catalogue back when there were catalogues, its in recievership eh
Lee Lau - xxx-er is the laziest Asian canuck I know
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09-14-2020, 06:27 PM #2
Well fuck, it comes as not a huge surprise sadly. Building a brand new "flagship" store in Calgary on the west side of town when they already had one downtown and one on the south side? Opening stores like crazy all over Canada in the last 10 years. What were they thinking? It's a shame that given the latest surge in bike sales and ski touring gear (and outdoor stuff in general) they couldn't have capitalized. Some poor decisions at a board level I'm thinking. I hope they can pull off some sorta miracle, lots of good folks out of a job at a particularly bad time.
“I tell you, we are here on Earth to fart around, and don't let anybody tell you different.”
― Kurt Vonnegut, A Man Without a Country
www.mymountaincoop.ca
This is OUR mountain - come join us!
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09-14-2020, 06:44 PM #3
mountain equipment kmart.
making average stuff at best
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09-14-2020, 07:03 PM #4
Thats too bad. I appreciate them for the ease of their shipping and warrantee. I like to use their prices as a price marker and they often list weights for the products.Theyre my go to for small things. There can be some good finds in the "sale" category too.Just recemtly got a couple mec hip packs for biking. One smaller with one water bottle holder and a bigger one with 2 water bottle holders. They both hold knee pads on the outside and i can get ma flannel in the big one. Really comfy and i dont think either was more than $20. Next is biking liner shorts.to replace my older mec liner shorts
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09-14-2020, 07:23 PM #5Perpetual Jong
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Actually MEC is being acquired by a US based private equity firm.
https://www.cbc.ca/news/business/mec...firm-1.5723934
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09-15-2020, 05:44 AM #6slacker
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I want my $5 back
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09-15-2020, 07:19 AM #7
the board steered the ship right into the iceberg
j'ai des grands instants de lucididididididididi
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09-15-2020, 07:23 AM #8Registered User
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What a tragedy. The shameful ambition and hubris of of MEC’s board and executive over the past 20 years destroyed something special, taking a lean and focused mountain equipment coop and turning it into a highly leveraged mainstream lifestyle chain.
Blogging at www.kootenayskier.wordpress.com
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09-15-2020, 07:44 AM #9slacker
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Now where will we find titanium chopsticks, $100 water bottles , dainty shoes and designer underwear?
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09-15-2020, 08:05 AM #10
And pizza ovens, seriously they jumped the shark years ago when the clothing sections became the biggest part of the stores. Selling the same stuff as all the other outdoor stores. And the clothing they were selling was either high end Arteryx or if it was their own brand and a ‘reasonable’ price it was only available in brown, black or dark green.
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09-15-2020, 08:27 AM #11Registered User
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09-15-2020, 08:28 AM #12Registered User
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09-15-2020, 08:39 AM #13
News of its acquisition Monday prompted many members of the co-operative to wonder whether they would get their co-operative shares — about $5 — back.
During the transition from a co-operative to a private company, members would have to claim themselves as creditors to stake a claim on their $5 shares.
Portfolio of new PE owner:
http://kingswood-capital.com/portfolio/
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09-15-2020, 08:56 AM #14Registered User
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Not very seriously, I'm pretty sure I got my 5$ worht over the years just on bogus returns
Lee Lau - xxx-er is the laziest Asian canuck I know
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09-15-2020, 10:14 AM #15
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09-15-2020, 10:20 AM #16Registered User
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they made some bad decisions and strayed from their roots
but this is just one of many chain stores going underLee Lau - xxx-er is the laziest Asian canuck I know
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09-15-2020, 10:35 AM #17
You think that will be one of the questions for your entry exam?
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09-15-2020, 10:42 AM #18
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09-15-2020, 10:51 AM #19
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09-15-2020, 10:55 AM #20
I always wondered why REI didn't move into the Canadian market like other American chain stores, particularly since they are headquartered in Seattle. Maybe MEC's troubles will prompt them to. Although at the moment, REI seems to be having the same problems MEC had. Everyone just buys everything on Amazon now anyway.
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09-15-2020, 11:05 AM #21
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09-15-2020, 11:11 AM #22
I don't know if REI seriously looked at entering the Canadian market, but I do know that before MEC's big expansion people in BC were fiercely loyal to it (and Taiga). That would've been a tough nut to crack.
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09-15-2020, 11:41 AM #23
I've heard that the REI in Bellingham was packed with Canadians (pre-COVID).
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09-15-2020, 12:16 PM #24
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09-15-2020, 12:31 PM #25
Can confirm. The three places where you will (would) always see BC plates are (were) Costco, Trader Joe's, and REI.
I don't know the exact timeline, but MEC was considered to be more legit than a "regular" store up until sometime in the 90s or maybe the early 00s. Their major expansion (of both stores and products) gained them new customers at the expense of some of their old ones. Like how everyone says a band "sells out" after they become popular.
I bought a ton of stuff from them (and Taiga) BITD, and it was way more function than form. As XXXer said a while back, you didn't have to worry about it going out of fashion because it was never in fashion.
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