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Economy Takes Another Bite !

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Well the economy has done it again ! I was at the Sportsmans Warehouse this morning just looking around and I noticed that there were allot of empty shelves, racks and floor space. At first I thought it was just due to not getting merchandise in on time. Well anyway I went to checkout and ask the gal if they were going out of business and to my surprise she said " Funny you should mention that' they gave us 60 days to liquidate our supply "
Sad, Sad day ! Now all we are left with is a Dicks Sporting Goods where no one has any knowledge of anything. Not to mention all the people who will be losing their jobs at SW. Just want to thank everyone at SW for all you did for me and my sons for hunting, archery etc. Great bunch of people especially in the archery dept.
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· Just beat Terry Club
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all of their stores or just this one???

Scary to think where we might be headed.
 

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Nothing new for SX, the one here got 2 days notice and was closed just shy of being open 4 months! yep didnt even last 4 months, very sad for SW and makes me kinda disgusted they didnt give it a chance, SW is having problems
 

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THats weird because just after the stock market crashed, they had sold Sportsmans Warehouse to a group of Canadian Investors.{ Co_op Farmers group} and it was doing well... I wonder if they are just closing the stores not doing so well? evryones having cutbacks right now... Too bad all my buds will be losing their jobs if this happens to all their stores... I was actually hoping to go back to work there this fall so I could get my Prodeals again for 2009...
 

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Times are hard, lots of businesses are either going under or cutting back.

My business will do well to last the year:crybaby2:

Having worked really hard for 6 years building a good business to have it taken away by outside factors makes me angry:angry:

There will be no government bale out for my business.

So my thoughts and best wishes go to everyone who looses their job or business in these troubled times what ever industry they are in.
 

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Limey.. Only businesses around these parts that get government bailouts are the ones that hold the investments of our Congressmen and National leaders.. lol,,, Everyone else has to Wing like Europe does... And that's without the help of anyone having insurance or medical... Half my neighborhood seems like a wasteland anymore... More then half the homes these days have been abandoned or foreclosed on...Somethings gotta give soon or our country will be in shambles..
 

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SW aquisition

November 26, 2008

UFA Co-operative Limited's increases annual revenue by $800 million with proposed acquisition of Sportsman's Warehouse

Calgary, AS, Nov. 26 - UFA Co-operative Limited is poised to acquire a majority interest in Sportsman's Warehouse, increasing the co-operative's annual revenue by $800 million.

Sportsman's Warehouse is a privately-owned outdoor outfitter with annual revenue topping $800 million and 67 stores in 29 American states. The acquisition aligns with UFA's strategy to diversify beyond its traditional businesses.

"UFA is a co-operative serving the people who live, work and play in rural communities," says Dallas Thorsteinson, president and chief executive officer. "Acquiring Sportsman's Warehouse fits perfectly with our strategy to create sustained valued for our owners by expanding to become a well-rounded rural marketer."

UFA will acquire a majority interest in US-based Sportsman's Warehouse. The acquisition is subject to successful completion of negotiations and a comprehensive due diligence process. UFA has already made a significant cash injection into the US retailer to ensure it's well stocked for the holiday retail season.

UFA is driving a controlled diversification strategy that includes construction and outdoor-lifestyle businesses. As a rural marketer, outdoor recreational products and services are a logical extension of UFA's existing relationship with customers and members. UFA acquired Canadian outdoor outfitter, Wholesale Sports in July 2008. Sportsman's Warehouse expands the co-operative's lifestyle business while financially strengthening the co-operative. With the addition of Wholesale Sports and Sportsman's Warehouse, UFA is a major North American force in the outdoor adventure industry.

UFA's 2007 revenues were more than $1.8 billion, ranking it among the 40 largest Alberta companies in terms of revenue, according to PricewaterhouseCoopers and Alberta Venture magazine. In 2008, UFA revenues will top $2 billion for the first time, having surpassed the $1 billion mark just four years ago.

"UFA is expanding beyond our traditional businesses to ensure that we can continue to serve our customers and owners." Thorsteinson added, "Our growth reflects our commitment to the people who have owned UFA for 100 years."
 

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The above is directly from the Sportsmans Warehouse website.
The aquisition is still in the works. I spent all sunday with our store manager and he said nothing about liquidating everything within 60 days. I cannot speak for the Indiana store or anyother store in the chain...

Unfortunately the customers and the stores are not the winners right now with the acquisition. However once the players get done this should be a win-win for all parties involved especially the customers.

With the recent election firearm and ammunition sales have reached record high levels. This has caused a shortage in may areas of the firearms industry. This in particular was a major part of SW. Shortages in the market along with the acquisition make things look particularly bleak but keep the faith the stores that have always been performers will continue to be with you it is just going to take some time....:thumbs_up
 

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Discussion Starter · #12 ·
I have only heard of this store but I am sad to say it sounds like there may be more involved. We have had a small but profitable family business for 10 years. Been able to put 2 sons and a wife thru college, buy a house and live within our means. We truly have been blessed. Just prey that the Lord enables us to continue in this troubled economy.
 

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Times are hard, lots of businesses are either going under or cutting back.

My business will do well to last the year:crybaby2:

Having worked really hard for 6 years building a good business to have it taken away by outside factors makes me angry:angry:

There will be no government bale out for my business.

So my thoughts and best wishes go to everyone who looses their job or business in these troubled times what ever industry they are in.
I hear you my friend and sympathize. I too am barely treading water right now in my business.
 

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The one here

wasn't open very long....and while I can't say I was sad to see it go, I do sympathize with anyone who for financial reasons, cannot make their bills. I've been laid off and looking since early December and thank God I have a wife with a good job and the good sense not to over extend fiscally.
 
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