sportsmans warehouse shuting down
04-06-2009, 09:21 AM
#12
Fork Horn
Join Date: Nov 2004
Location: Colorado
Posts: 335
RE: sportsmans warehouse shuting down
I was in heaven - had SMW 5 min from my house and Gander Mountain 5 min in other direction and Bass Pro only 15 min away. I could usually find anything that I needed. Now my SMW is closing and Wal-mat's here are carrying only the most basic stuff and most are discontinuing most of their hunting and shooting stuff. Now I have to go to high-priced Gander Mountain.
I was sure dissappointed to hear they were closing.
Spud
I was sure dissappointed to hear they were closing.
Spud
04-06-2009, 10:11 AM
#13
Fork Horn
Join Date: Aug 2006
Location: Central Iowa
Posts: 228
RE: sportsmans warehouse shuting down
According to their press release, they have file for Chapter 11 bankruptcy, but are keeping 29 stores open. I couldn't fine a list of which were closing and which are staying open.
http://www.sportsmanswarehouse.com/i...%20Release.pdf
http://www.sportsmanswarehouse.com/i...%20Release.pdf
04-06-2009, 10:33 AM
#14
Nontypical Buck
Join Date: Mar 2007
Location: Trempealeau, WI
Posts: 1,138
RE: sportsmans warehouse shuting down
Yes most all of their stores are closing. My gf works at one and only has a couple days left before they let a bunch of people go......... They have to be one of the worstmanaged sportsman's stores ever. They continued to build new stores even in the last year even though they couldn't even keep the locations they currently had stocked with gear to keep customers happy. The biggest thing of all they don't have a website you can order things from. How can they have stores the size of some of the cabelas and such and think they could compete with this kind of management?? Well they are screwed now and lots of people are losing jobs.....
***All I can say is don't go into one of the stores and complain about discounts not being low enough. Youmay be told to f-off and stay away if you don't like it. The employees really don't care anymore and are getting sick ofcustomers complaining to them. So be curtious because these employees are just tryin to make some money while they search for new jobs.*** WCL
***All I can say is don't go into one of the stores and complain about discounts not being low enough. Youmay be told to f-off and stay away if you don't like it. The employees really don't care anymore and are getting sick ofcustomers complaining to them. So be curtious because these employees are just tryin to make some money while they search for new jobs.*** WCL
04-06-2009, 10:58 AM
#16
Nontypical Buck
Join Date: Mar 2007
Location: Trempealeau, WI
Posts: 1,138
RE: sportsmans warehouse shuting down
This is as of March11th from an article. By the sounds of it from the gf and with the bankruptcy that was filed on March 21st it may be worse but haven't found any details saying it will be any worse or different than the closings and sellings listed below. WCL
"CEO Stu Utgaard announced that 23 of the company’s 67 stores would be closing in the next few months, including two stores in Idaho (Pocatello and Nampa) and one in Colorado (Aurora). Other Idaho stores and all Montana stores would remain open.
In a phone interview with NewWest.Net, Utgaard explained that the company ran in to major cash crunch. “UFA did not close the transaction,” he explained. “They missed four closing dates. Now, we have no liquidity.”
And the banks are putting extreme pressure on the company to reduce debt, he said. “They have all the money. They (the banks) are trying to force us into bankruptcy, and we’re trying to avoid it.”
“We’re closing 23 stores to reduce our bank debt,” he explained, “and we’re selling 15 stores to UFA for the same reason. We are now a 29- store chain.”
In the teleconference, Utgaard said UFA will have the rights to use the Sportsman’s Warehouse brand on the 15 stores for up to two years, but will likely start the process of re-branding the stores as Warehouse Sports, a similar Canadian sports store chain UFA already owns.
These 23 stores are being liquidated: Aurora, CO, Coon Rapids, MN, DePere, WI, Henderson, NV, Lafayette, IN, Las Cruces, NM, Las Vegas, NV, Legacy, TX, Memphis, TN, Nampa, ID, New Berlin, WI, Oklahoma City, OK, Pittsburgh, PA, Pocatello, ID, Roanoke, VA, Rogers, AR, Round Rock, TX, St. Cloud, MN, Sioux Falls, SD, Southaven, MS, Visalia, CA, Wichita, KS and Woodbury, MN
These 15 stores are being sold to UFA: Bend, OR, Bozeman, MT, Burlington, WA, Coeur d’Alene, ID, Fargo, ND, Federal Way, WA, Helena, MT, Kennewick, WA, Lacey, WA, Missoula, MT, Portland, OR, Salem, OR, Silverdale, WA, Spokane, WA, and Vancouver, WA"
"CEO Stu Utgaard announced that 23 of the company’s 67 stores would be closing in the next few months, including two stores in Idaho (Pocatello and Nampa) and one in Colorado (Aurora). Other Idaho stores and all Montana stores would remain open.
In a phone interview with NewWest.Net, Utgaard explained that the company ran in to major cash crunch. “UFA did not close the transaction,” he explained. “They missed four closing dates. Now, we have no liquidity.”
And the banks are putting extreme pressure on the company to reduce debt, he said. “They have all the money. They (the banks) are trying to force us into bankruptcy, and we’re trying to avoid it.”
“We’re closing 23 stores to reduce our bank debt,” he explained, “and we’re selling 15 stores to UFA for the same reason. We are now a 29- store chain.”
In the teleconference, Utgaard said UFA will have the rights to use the Sportsman’s Warehouse brand on the 15 stores for up to two years, but will likely start the process of re-branding the stores as Warehouse Sports, a similar Canadian sports store chain UFA already owns.
These 23 stores are being liquidated: Aurora, CO, Coon Rapids, MN, DePere, WI, Henderson, NV, Lafayette, IN, Las Cruces, NM, Las Vegas, NV, Legacy, TX, Memphis, TN, Nampa, ID, New Berlin, WI, Oklahoma City, OK, Pittsburgh, PA, Pocatello, ID, Roanoke, VA, Rogers, AR, Round Rock, TX, St. Cloud, MN, Sioux Falls, SD, Southaven, MS, Visalia, CA, Wichita, KS and Woodbury, MN
These 15 stores are being sold to UFA: Bend, OR, Bozeman, MT, Burlington, WA, Coeur d’Alene, ID, Fargo, ND, Federal Way, WA, Helena, MT, Kennewick, WA, Lacey, WA, Missoula, MT, Portland, OR, Salem, OR, Silverdale, WA, Spokane, WA, and Vancouver, WA"
04-07-2009, 09:34 AM
#20
Dominant Buck
Join Date: Feb 2005
Location: WC FL
Posts: 26,323