MEC -- Insolvent

[Darts]

A co-op seemed like a good idea.

Los Angeles group buys Canada's MEC Co-op out of insolvency

VANCOUVER, British Columbia (BRAIN) — Mountain Equipment Co-op, Canada's outdoor gear co-op, has agreed to be acquired by Kingswood Capital Management, LP, a Los Angeles-based investment group. Kingswood will acquire MEC's assets through the Companies' Creditors Arrangement Act, a Canadian law...

www.bicycleretailer.com

 

[escortsxxx]

A co-op seemed like a good idea.

Los Angeles group buys Canada's MEC Co-op out of insolvency

VANCOUVER, British Columbia (BRAIN) — Mountain Equipment Co-op, Canada's outdoor gear co-op, has agreed to be acquired by Kingswood Capital Management, LP, a Los Angeles-based investment group. Kingswood will acquire MEC's assets through the Companies' Creditors Arrangement Act, a Canadian law...

www.bicycleretailer.com

sad cheated the owners

 

[rafterman]

I want my $5 back, whose with me? But seriously they were struggling for a couple of years and Covid pushed them over the edge. I see the buyer is promising to keep the bulk of their stores open. We'll have to see if that pans out.

 

[basketcase]

You could file as a creditor if you want that $5 (though likely you've saved many times that on prices).

Sail's also filed for bankruptcy protection. Hopefully the profit driven structure won't screw things up too much.

 

[Darts]

I find MEC and all professional bike shops overprice their products.

In theory, a co-op sounds like a good ideas. Everybody who works there has skin in the game (I mean company). The big box stores have too many employees who don't care and often don't know the products they are trying to sell.

 

[JackBurton]

You know, I can see why they did so well initially and all through the 80’s & 90’s: there was a lot of outdoor activity like camping that was promoted as part of living a healthy lifestyle even in highschool. There was a connection to our frontier mentality that people liked.

Then budget cuts to education happened. Which is going to go first: outdoor ed or math? Remember the rhetoric of “kids need to learn back to basics and math drills!”? Well, the nickel & diming of the system by the govt seemed to forget that academic teachers are just a small role in a kids life. We should be raising children to be able to value a healthy life outdoors, eat well, socialize with others and be a contributing member of society.

Meh...maybe I’m just grumpy as an old man. I treasured my time camping and whitewater paddling the north. It’s incredible and a way to touch history.

Anyway, long story short: MEC made bombproof gear for outdoors, hell I still have my original MEC membership card that has only 4 digits on it, but as people got older and more urban, they couldn’t keep up with the fragmenting of interests.

 

[Darts]

You know, I can see why they did so well initially and all through the 80’s & 90’s: there was a lot of outdoor activity like camping that was promoted as part of living a healthy lifestyle even in highschool. There was a connection to our frontier mentality that people liked connecting to.

Then budget cuts to education happened. Which is going to go first: outdoor ed or math? Remember the rhetoric of “kids need to learn back to basics and math drills!”? Well, the nickel & diming of the system by the govt seemed to forget that academic teachers are just a small role in a kids life. We should be raising children to be able to value a healthy life outdoors, eat well, socialize with others and be a contributing member of society.

Meh...maybe I’m just grumpy as an old man. I treasured my tune camping and whitewater paddling the north. It’s incredible and a way to touch history.

Anyway, long story short: MEC made bombproof fear for outdoors but as people got older and more urban, they couldn’t keep up with the fragmenting of interests.

I grew up in rural Quebec (where Sail got started) so I know what you mean. I use to know how to make 800 (more or less) different knots but that is not a highly valued skill nowadays. I went to MEC mainly to look at their bike stuff and found they were really overpriced.

 

[blueray]

The big box stores have too many employees who don't care and often don't know the products they are trying to sell.

In retail it's hard enough just to find a reliable person who will do the job for the pay they are offering. Finding one who is or can be an expert on the products is next near impossible. We now have to do our own product research and comparisons and weigh the pros and cons....then just order it online or go to the store and pick it off the shelf and have the underpaid retail worker ring it up.

 

[Darts]

We now have to do our own product research and comparisons and weigh the pros and cons...

A few years ago, Canadian Tire asked me if I want to be one of their "product testers". I test the product, write a review and keep the product for free.

 

[Robert Mugabe]

A few years ago, Canadian Tire asked me if I want to be one of their "product testers". I test the product, write a review and keep the product for free.

I had a couple of AMPS make me the same offer. Still got one of their "products" around somewhere. Sorry about MEC . Bit pricey though.