A special levy of $2.50 on every member would cover the last year loss. The current year loss and called in credit seems to be more on the line of $20 per member.
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A special levy of $2.50 on every member would cover the last year loss. The current year loss and called in credit seems to be more on the line of $20 per member.
A co-op isn't a limited liability company. Anyone know if directors of a co-op might be liable for losses - especially if they are found negligent?Quote:
Originally Posted by Shorty_J
If that's the reason that's super fucked.Quote:
Originally Posted by nickinbc
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Negligent? What brick and mortar retail isn't on the brink of bankruptcy right now.
Put me down as another member from the 80's that felt the company lost its way in the new millennium. Especially since I never lived in a city where/when there was a brick and mortar outlet - the vast majority of my purchases there over the years were by phone/online. I could never fathom why they continues to open stores, and then multiple stores in the same city. All those fancy executives from 'industry' where unchecked growth was the only business model they know. So far beyond the original concept that made the original brand what it was. Very sad, but I suppose the membership got what we voted for.
Consider maybe we got the store we deserved cuz it is after all a coop
the early members were UBC varsity outdoor club people,
some pretty out there folks back in the 70's
the new members are the new members
Well at least they are folding and getting snatched up by vulture capitalists instead of getting a tax payer funded bailout, then folding.
I went in to MEC to pick the salomon brakes I scored and the store looked like a toilet paper aisle in march. Most items did not have a price tag. They said they don't have enough staff to bring out the stock and place the price tags.
I feel sorry for the old MEC, I couldn't care less for the square MEC.
I am pretty happy decathlon is in Canada. They are a retail store that's probably doing just fine competing with Amazon.
Everyone thinks they are an experts about MECs demise.
Retail is a fickle beast and it takes a lot to make retail work.
Especially when MEC started, back then online wasn't as big a competitor
to bricks n mortal stores. And even outdoor was still a fledgling industry.
I think they diluted their purpose a little to much,
and paid staff a little to little.
Tim Hortons is doing well,
in spite of the non-Canadian ownership.
They have always had staff that care.
I've always liked that about MEC.
if they wanted to go that route they should have rebranded as CEM.Quote:
Originally Posted by xyz
- out west me
AgreedQuote:
Originally Posted by xyz
Which ones?Quote:
Originally Posted by Gcooker
From Last HuntQuote:
Originally Posted by Kirby
I thought that that demographic no longer shopped at MEC based on their latest marketing campaigns.Quote:
Originally Posted by Kirby
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.
https://vancouversun.com/news/local-...quipment-co-opQuote:
Originally Posted by shirk
Yep same feels there. It's going into the chop shop to part it out.Quote:
Originally Posted by Ted Striker
No longer to be a member owned cooperative...Quote:
Originally Posted by shirk
https://urldefense.com/v3/__https://globalnews.ca/news/7334603/mountain-equipment-coop-sold/__;!!FZtbJVnXfw!lq6y4lOcwlp5xjh6ZLV0YjIroXMWXAHOZ1 aY0eaaJ-5G3LudCMV0nsJuqpVOsj52PiI$
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That’s SOP for the vulture caps.Quote:
Originally Posted by shirk
MEC’s demise is overall bad for us consumers. Less competition. Escape Route in Whistler would anchor their prices on skis and boots to MEC’s. Now they can do whatever and we lose the MEC return policy.
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.Quote:
Originally Posted by xyz
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?
Inventory reduction? Have you been in any of their stores? MEC-many empty compartmentsQuote:
Originally Posted by TrueNorth
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 evenrything
Target. Walmart. Costco. REI. Sure they have an online presence, but so did MEC.Quote:
Originally Posted by altasnob
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.
REI and Dicks put themselves on a lot of personal boycott lists with that stunt.Quote:
Originally Posted by waxman
Go woke, go broke. I boycott any virtue signalling company. Now I don’t have to go broke buying a Yeti!Quote:
Originally Posted by 1000-oaks
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.
You must be referring to this? Hard to keep up with all the corporate apologies latelyQuote:
Originally Posted by xyz
https://www.bikemag.com/news/petitio...its-marketing/
yeah, doing the right thing is always a beta move.Quote:
Originally Posted by xyz
grab life by the pussy and so forth
It was a convoluted mix of anger, rumor, and damage control (and has absolutely nothing to do with MEC).Quote:
Originally Posted by Dr. Crank
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.
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.Quote:
Originally Posted by kalisto
There are plenty of doofuses in the outdoor industry available to hire.Quote:
Originally Posted by waxman
that isn’t confined to MEC similar issues with a couple other Canadian retailers (not outdoors) ime.Quote:
Originally Posted by waxman
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
My MEC tent is still going strong after all these years, and I always liked hitting up that store for bits and pieces. Always liked their stuff, for the most part. Guess I'm a poser douchebag.
Same here. I have probably shopped at MEC more than i would like to admit. They had all the stuffs though.Quote:
Originally Posted by paulster2626
true, but that's mostly since covid and supply chain shipping issues, MEC has been like that since they were in a basement in CalgaryQuote:
Originally Posted by dunfree
If i had known camp fuel and freeze dried food (and bikes, missed the boat there) were going to sell like they did this summer (and that suppliers were going to run out in June) I'd be booking heli trips all over the place this winter, now i just hope skis/winter will be continue on
Save MEC legal fund
https://www.gofundme.com/f/save-mec-legal-fund?
Already $21000 raised. Keep MEC a Canadian Coop.
Let MEC die. Management drove it into the ground. They don’t deserve a second chance.Quote:
Originally Posted by puregravity