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  1. #1
    Join Date
    Mar 2008
    Location
    northern BC
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    21,713

    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

  2. #2
    Join Date
    Sep 2009
    Location
    Down by the river, Terrace, BC
    Posts
    3,618
    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!

  3. #3
    Join Date
    Oct 2003
    Location
    Banff
    Posts
    20,944
    mountain equipment kmart.

    making average stuff at best


  4. #4
    Join Date
    Sep 2009
    Location
    in the trench
    Posts
    11,724
    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

    Sent from my SM-G950W using TGR Forums mobile app

  5. #5
    Join Date
    Jan 2008
    Location
    Strong and Free
    Posts
    418
    Actually MEC is being acquired by a US based private equity firm.

    https://www.cbc.ca/news/business/mec...firm-1.5723934

  6. #6
    Join Date
    Dec 2012
    Location
    Canada
    Posts
    339
    I want my $5 back

  7. #7
    Join Date
    Sep 2008
    Posts
    11,187
    the board steered the ship right into the iceberg
    They got a name for the winners in the world

    http://procatinator.com/?cat=80

  8. #8
    Join Date
    Sep 2006
    Location
    Rossland BC
    Posts
    1,275
    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.

  9. #9
    Join Date
    Dec 2012
    Location
    Canada
    Posts
    339
    Now where will we find titanium chopsticks, $100 water bottles , dainty shoes and designer underwear?

  10. #10
    Join Date
    Apr 2004
    Location
    Creekside
    Posts
    1,471
    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.

  11. #11
    Join Date
    Jan 2013
    Location
    Northern BC
    Posts
    1,904
    Quote Originally Posted by garyfromterrace View Post
    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.
    This

  12. #12
    Join Date
    Jan 2013
    Location
    Northern BC
    Posts
    1,904
    Quote Originally Posted by grinch View Post
    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.
    Sent from my SM-G950W using TGR Forums mobile app
    And this

  13. #13
    Join Date
    Jan 2005
    Location
    Keep Tacoma Feared
    Posts
    1,589
    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/

  14. #14
    Join Date
    Mar 2008
    Location
    northern BC
    Posts
    21,713
    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

  15. #15
    Join Date
    May 2012
    Location
    san diego
    Posts
    2,193
    Quote Originally Posted by TrueNorth View Post
    Actually MEC is being acquired by a US based private equity firm.

    https://www.cbc.ca/news/business/mec...firm-1.5723934
    So, basically it will be the next Sport Chek.... With higher end goods to start with.

  16. #16
    Join Date
    Mar 2008
    Location
    northern BC
    Posts
    21,713
    they made some bad decisions and strayed from their roots

    but this is just one of many chain stores going under
    Lee Lau - xxx-er is the laziest Asian canuck I know

  17. #17
    Join Date
    Sep 2009
    Location
    in the trench
    Posts
    11,724
    Quote Originally Posted by altasnob View Post
    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/
    You think that will be one of the questions for your entry exam?

    Sent from my SM-G950W using TGR Forums mobile app

  18. #18
    Join Date
    Jan 2009
    Posts
    999
    Quote Originally Posted by evdog View Post
    So, basically it will be the next Sport Chek.... With higher end goods to start with.
    Isn't that SAIL?

  19. #19
    Join Date
    Jun 2014
    Location
    Montreal, Canada
    Posts
    1,381
    Quote Originally Posted by XXX-er View Post
    Not very seriously, I'm pretty sure I got my 5$ worht over the years just on bogus returns
    so many returns. Ya they can keep the 5iver.

    Sucks for all the kids who's jobs may be affected.
    24° 06°

  20. #20
    Join Date
    Jan 2005
    Location
    Keep Tacoma Feared
    Posts
    1,589
    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.

  21. #21
    Join Date
    Jun 2014
    Location
    Montreal, Canada
    Posts
    1,381
    Quote Originally Posted by altasnob View Post
    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.
    They certainly were both very good at the whole 'virtue signaling' thing.
    24° 06°

  22. #22
    Join Date
    Mar 2008
    Location
    the ham
    Posts
    8,511
    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.

  23. #23
    Join Date
    Jan 2005
    Location
    Keep Tacoma Feared
    Posts
    1,589
    I've heard that the REI in Bellingham was packed with Canadians (pre-COVID).

  24. #24
    Join Date
    Oct 2007
    Location
    West Shore
    Posts
    2,355
    Quote Originally Posted by TrueNorth View Post
    Actually MEC is being acquired by a US based private equity firm.

    https://www.cbc.ca/news/business/mec...firm-1.5723934
    That's even worse. MEC is fucked.
    No kick turns
    No mercy

  25. #25
    Join Date
    Mar 2008
    Location
    the ham
    Posts
    8,511
    Quote Originally Posted by altasnob View Post
    I've heard that the REI in Bellingham was packed with Canadians (pre-COVID).
    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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