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Thread: MEC in reecievership
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09-16-2020, 09:26 AM #51
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09-16-2020, 10:05 AM #52
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09-16-2020, 10:59 AM #53Registered User
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09-16-2020, 11:06 AM #54
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09-16-2020, 11:14 AM #55Registered User
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Still no real details yet?
I have a feeling the vulture caps have just picked up MEC's real estate holdings for pennies on the dollar.
MEC will still be a co-op owned by the members...but the board has sold off it's assets to pay down their dept. MEC then rents back their locations from the vulture cap. Operating costs will go up and they'll reduce their locations and size.
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09-16-2020, 11:37 AM #56
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09-16-2020, 12:14 PM #57Registered User
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09-16-2020, 12:38 PM #58Goal: ski in the 2018/19 season
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09-16-2020, 01:37 PM #59
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09-16-2020, 02:03 PM #60
to be fair, VPO is actually a pretty solid competitor to Escape Route, they've come through on a lot of gear I needed this summer for a bunch of things, maps, backpacking stuff, new boots, that escape route didn't come close to being able to match in terms of variety of selection and in-stock. They've unexpectedly become my go to.
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09-16-2020, 02:23 PM #61Perpetual Jong
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Just realized I’m still holding a big MEC gift card. I wonder if I should hurry up and spend it while I still can, or if the new owners will honour it? Maybe there will be a big inventory reduction sale coming up, or maybe not?
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09-16-2020, 02:26 PM #62indentured servant
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what's orange and looks good on hippies?
fire
rails are for trains
If I had a dollar for every time capitalism was blamed for problems caused by the government I'd be a rich fat film maker in a baseball hat.
www.theguideshut.ca
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09-16-2020, 02:45 PM #63Registered User
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I used to order at least 50$ worth of stuff for the free shipping and then maybe every year or 2 return whatever I didnt want when i was near a store but I really havent bought much lately
none of it really speaks to me anymore and besides i seem to have evenrythingLee Lau - xxx-er is the laziest Asian canuck I know
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09-16-2020, 04:20 PM #64
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09-16-2020, 05:23 PM #65
REI (closest comparison) just scrapped plans of building a new headquarters in Bellevue and instead sold the property to Facebook. REI now plans smaller decentralized offices around the Seattle area. But ya, REI seems to be doing alright (seems mainly due to focus on online). Brooks Brothers, J Crew, JC Penny, Roots USA, Lucky Brand, Pier 1, Sur La Table all have gone bankrupt during the pandemic. Sure the big guys are making out well but I wouldn't want to be in brick and mortar apparel retail right now.
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09-17-2020, 01:50 PM #66
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09-17-2020, 04:08 PM #67
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09-17-2020, 08:50 PM #68
Given the amount of people buying outdoor stuff during this whole covid thing, no way you can compare MEC to all those other retailers. They have been going downhill for a while, this was just the final nail in the coffin.
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09-17-2020, 09:03 PM #69
You must be referring to this? Hard to keep up with all the corporate apologies lately
https://www.bikemag.com/news/petitio...its-marketing/
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09-17-2020, 10:14 PM #70
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09-17-2020, 10:29 PM #71
It was a convoluted mix of anger, rumor, and damage control (and has absolutely nothing to do with MEC).
One story: https://www.nraila.org/articles/2018...tement-on-yeti
Another story: https://www.outsideonline.com/230018...t-you-think-it
A completely polarized incident, like everything else these days, sadly.
Back to MEC.
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09-18-2020, 07:26 AM #72Perpetual Jong
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At least 3 major outdoor gear retailers in Canada have gone into some form of bankruptcy/receivership this year: La Cordee, Sail/Sportium, and now MEC. Combined, those 3 had 44 store locations, plus e-commerce operations, and must account for a pretty large percentage of the Canadian market. I don’t know the full stories, but it must be a tough business.
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09-18-2020, 07:33 AM #73
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09-18-2020, 08:10 AM #74
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09-18-2020, 11:12 AM #75Registered User
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MEC has been un-impressing their base for decades so when it all comes crashing down its fuel for the I-told-you-so ism
Lee Lau - xxx-er is the laziest Asian canuck I know
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