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There was a recent thread regarding Sportsman's Warehouse in Anchorage. I posted a reply regarding the purchase of Sportsman's Warehouse by U.F.A (United Farmer's). I spoke with them (U.F.A) & was told they only purchased 15 locations, out of the 60 currently open. Anchorage was not one of them. Apparently the other locations will likely file for Bankrupcy at which time they (and other's) may bid on the assets. It is always an unfortunate event when a business has to close. my hope and prayers are for the employees and their families who may be effected by this!
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I don't think the Anchorage store was affected either way by the bankrupcy or the closures, other than for not being able to replenish stock right now. It wasn't on the list of stores to be closed or the list to be sold. :confused:Now what ? -
Talking to the boys this past weekend, the Wasilla, Anchorage and Fairbanks stores will NOT close. Both stores are the money makers for the chain as I was told. No worries of they know at the moment. :cool:Comment
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According to the Wall Street Journal it was chapter 11 with a restructuring. The company will continue in business with reduced stores. UFA did buy a portion of the stores. Other stores are being closed. Alaska is safe.Comment
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Sportsman's Warehouse
Stratofisher's comments are are correct. U.F.A. bought (only) 15 locations located in OR(3), MT (3), WA (7), ID (1), ND (1). One can only assume, the biggest hurdle Sportsman's faces today in their re-structuring, besides debt, is the diminishing economics of scale - had 60 now 45. As for AK locations they face challenges with distrubution as UFA has purchased the lion's share of the western state locations, freight cost will sky rocket due to the additional distances product will be forced to take. Locations may no longer be able to share costs with those states, if they purchased all locations within a state?. Does that make AK safe? for how long?Comment
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Their "Real" business never was retail sales for profit. The profit was same as a home builders, only on a much larger scale. Build new store for 1.2 million, and finance it for 3.2 million, and make 2 million on each store opening. Pay n'Pack did it, Long's Drugs did it, K'Mart did it.
They kid them self into believing that they are in the retail business, but they are in the commercial construction business, and at some point either cost of money, or saturation of market, it is game over....:eek:
Sort of a legal pyramid con.....:eek:Comment
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That's what the employee at Anchorage told me. He said what I quoted from you above, plus that they DO take gift cards.Originally posted by AKDSLDOG View Post
TimComment
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Hopeak, Job well done explaining the Real Estate retail business.Comment
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I was in the fairbanks store again today and was told they can't wait for the chapter 11 to be done so they can start odering again... and even laughed they MAY have more control over it and start getting stuff for Alaska..."If you are on a continuous search to be offended, you will always find what you are looking for; even when it isn't there."
meet on face book hereComment
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That'd be cool. I still haven't figured out where all the elk and turkey calls fit in.Originally posted by Vince View PostNow what ?Comment
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Hmmmm.
I wonder if this mean that Anchorage will be able to order stock from the brands that they are deeply in debt to? It won't mean much if they won't have any Leupold, Swaro, etc. on the shelves.
Of course we can alway take up elk and turkey hunting.If anything is going to happen, it'll happen out there.Comment
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