Sportsmans Warehouse is in trouble.
Sportsmans Warehouse is in trouble.
"It listed assets of $436.4 million and liabilities of $452.1 million" That can't be good. Looks like your not spending enough money there Ultrmag. hahaha
NEW YORK, March 21 (Reuters) - Sportsman's Warehouse, a Utah-based sporting goods retailer, on Saturday filed for Chapter 11 bankruptcy protection citing a liquidity crisis triggered by declining sales and the global economic slowdown.
Amazing! Let this be a lesson to anyone who tries to overbuild 70+ stores in less than 10 years nationwide. I donít have a BA in business and I still thought it was a bit aggressive. I believe you can blame only so much of this on todayís economy.
I call it operating within your means. Kind of like not buying into a hybrid mortgage with a balloon payment and getting in over your head - and later blaming it on the economy. I hope for the best for their employees.
Alaska Outdoors Television ~ Outdoor Channel
I meet the original owner about 5 years ago, when negotiating some work to build a couple of his stores in the lower 48. I had made some comment about the location of one of the stores and how it was a good spot since it had lots of shopper traffic, and he said, he didn't need the traffic, he could put the store anywhere in town and he could draw his own traffic. He went on to point out how many stores he was building and planned to build many more in a short time.
Anyways, he come off as a bit arrogant and cocky, so I wasn't surprised to see his aggressive plan fall short.
I don't fault him for his vision or aggressive business plan, it just seemed a bit odd. In fact, I was glad he built the stores, I got the contract to do the work and made some good money for the company I was working for and I guess someone else can use the property to sell something else now.
That's too bad. Hopefully the local gun shops don't jack their prices up too high if the competition goes away.
I didn't see much change in gun pricing when the new competition came to town, I doubt that they are going to jack the prices up now. I find myself willing to spend a little more for a local shop that will actually get me the gun I want. My experience w/ Sportsman's was they would sell you anything you wanted as long as it was in stock.
Finally get a half azz store up here and they are looking like the bottom of the toilet! I hear the wasilla store is done but the anchorage store might stay. Sucks anyway it goes. I would prefer Cabela's, but, SW is not that bad.
Not trying to add a coffin nail to Sportsmens' Warehouse, but if any of you, or someone you may know, has an animal mount in the stores, I'd forewarn them about this. It would be heartbreaking if the stores were locked up and the signs said to deal with their lawyers or a bankruptcy court in trying to get their animals back. Perhaps there is a contract written to avoid this problem, but I'd be steamed if my mount was being held hostage....
Rumor has it that Cabela's is buying Sportsmans warehouse in anchorage
PEOPLE SAY I HAVE A.D.D I DON'T UNDERSTA.....OH LOOK A MOOSE !!!
U.F.A (United Farmers of Alberta) has recently purchased 2 national retail chains -Sportsman's Warehouse in the U.S.A. and Wholesale Sports in Canada. Not sure which outlets they will keep which they will sell/close but one has to think the Anchorage location would be profitable. Check their website for more info.
As of now, they have "sold" (Given control of) several stores to the Alberta Farmers Alliance. They are closing 24 stores and the rest will try to remain open. The Alaskan stores are remaining open at this time.
As for Cabela's buying them out, don't count on it.
The only store in Michigan closed over a year ago. It's really bad here. It has been bad here for a couple of years now. Please buy AMERICAN cars and TRUCKS.