Sportsman's Warehouse

[stevecrea]

While this issue is not directly related to 204 issues:

Sportsman's Warehouse just announced that it is closing and liquidating 23 stores, and that 15 other stores have been acquired by UFA, the Canadian ag co-op. Sportsman's has been one of the largest sporting goods retailers in this area, and our local store in Meridian, Idaho will apparently be continuing operations. I understand that the chain has been in Chapter 11 for at least a few months, and these moves are part of the proceedings to pay down bank debt.

This is one of the numerous ominous signs of our economy across the country. Many retailers have already closed, and many more will likely close this year, as the economy and consumer spending grinds down.

I am sorry to see this development, as Sportsman's has been a good place to buy ammo, guns, and many other lines of sporting goods.

[Rick in Oregon]

Steve: Bad news indeed. I hope our local store here survives the ordeal, as like yours, it is the best outlet locally for the things guys like us buy on a regular basis.

Thanks for the heads-up, I'll check with our store to see if we'll still be smiling soon.

[Lenard]

My friend that works at the one in Salem, Or, told me 6 weeks or so ago, that the stores closest to the Canadian Border would be bought by the Canadian Co-op. So Rick, I would be lead to believe your store in Bend will be one of those sold. He told me 15 stores were being sold.

The inventory in this local store has been extremely low. They had sold almost the entire inventory of pistols a month or so ago. You can barely find any bullets and practically no powder.

In addition, he related that many of the slow moving items have not turned since he has been there, over 5 years. The management apparently did not pay enough attention.

Lenard

[Rick in Oregon]

Well, it appears we're okay here in Oregon. I just got off the phone with them, and all Oregon stores will remain open, but only one under the old owners, that store being in Medford. The Canadian company will keep the other sores in Clackamas, Salem, and Bend open, but will change the name of those stores sometime in the next year.

Whew.....we dodged that bullet. Now I'm just hoping the inventory will come back up and they'll keep handguns, as we all know how the Canadian government feels about handguns. One reason I moved back down here from BC many years ago.

Late Edit:
Here's a list of the stores that are closing. Stores not listed will remain in business, albeit under new ownership:

Here is some info I pulled off SW's website today:


March 10, 2009

Stuart Utgaard, the Chairman and CEO of Sportsman's Warehouse Holdings, today announced that the company is taking two major actions to improve liquidity.

1. 23 stores are being liquidated to reduce bank debt. 2. 15 stores are being sold to UFA Co-op.
• 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
• Woodbury, MN • 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
• Vancouver, WA

It is hoped that these actions will enable the firm to go forward as a viable entity with approximately 2,300 employees. Sportsman's Warehouse is a leading outdoor retailer of sporting goods headquartered in Midvale, Utah.

[Captqc]

Our Sportsman's in Clackamas OR has had nothing on their shelves for months! I suspected they were in trouble before the end of last year. I got a gift card for Christmas and spent it as soon as possible. Hope they make it with the new owners. Gary

[Sidewinderwa]

I work in the Kennewick WA Sportsman's Warehouse and I believe that it is one of the UFA stores now. They can keep the name for 2 years. Hopefully this will result in more product coming into the stores. Some of the companies were not shipping to us until the sale was finalized. UFA may possibly be buying some of the other stores at a reduced price, due to the Chapter 11. We are in hard financial times now. Many of the manufacturers cannot keep up with demand, especially since the banks reduced everyone's credit. CCI is way behind on primers and laid off one line of primer workers. Be sure to support the remaining Sportsman's Warehouse stores so that they do not have to close more stores to pay off the debts.

[majcl5]

I hate to see any bussiness close down but Sportsmans is ran terriable. The employes are not informed I think i know the store better than they do. Maybe its just the one in Portland but there ordering system or lack there of is a joke they know nothing about what is coming in, you cant order anything , what comes in comes in they just stack the shelves. All ordering is done back east. One of the store employes told me they got sold and dont know what is coming up with the new ownership. But they do have a lot of stuff for all forms of the outdoors. When the shelves are stocked normal it is a great place to just look and dream.

[Bayou City Boy]

Here's a link with a little bit more detail.

http://www.predatorxtreme.com/ArticleCo ... -38-Stores

If the link changes, here's the meat of the article with a list of the 23 stores to close as well as the 15 stores being sold.

"Sportsman’s Warehouse To Lose 38 Stores
See More News
Mark Melotik 3/11/2009

It appears the nation’s struggling economy is also impacting the spending habits of U.S. sportsmen. Noted sporting goods mega-retailer Sportsman’s Warehouse announced on Tuesday that it will liquidate 23 of its stores and sell 15 more, moves that would reduce its total U.S. locations from 67 to just 29.

The moves, posted in a letter on the Sportsman’s Warehouse website, will reportedly allow the sporting goods retailer to reduce bank debt and “go forward as a viable entity” with approximately 2,300 employees, according to comments from Stuart Utgaard, the Chairman and CEO of Sportsman’s Warehouse Holdings.

A timeline was not offered for the moves; the 23 stores to be liquidated include: three locations in Minnesota (Coon Rapids, St. Cloud, and Woodbury), two locations in Nevada (Henderson and Las Vegas), two in Texas (Legacy and Round Rock), two in Wisconsin (DePere and New Berlin), two in Idaho (Nampa and Pocatello) and stores in Las Cruces, New Mexico, Aurora, Colorado, Lafayette, Indiana, Memphis, Tennessee, Oklahoma City, Oklahoma, Pittsburgh, Pennsylvania, Roanoke, Virginia, Rogers, Arkansas, Sioux Falls, South Dakota, Southaven, Mississippi, Visalia, California, and Wichita, Kansas.

A total of 15 stores will be sold to UFA Co-op Limited, based in Calgary, Alberta, which acquired Sportsman’s Warehouse in late 2008. UFA Co-operative Limited is reportedly Canada’s largest re-seller of diesel products, serving rural communities throughout Alberta, B.C. and Saskatchewan, with a construction division and network of retail stores and petroleum outlets.

Sportsman’s Warehouse stores to be sold to UFA include seven in Washington (Burlington, Federal Way, Lacey, Kennewick, Silverdale, Spokane, and Vancouver), three in Oregon (Bend, Portland, and Salem), three in Montana ( Bozeman, Helena, and Missoula) and stores in Coeur d’Alene, Idaho, and Fargo, North Dakota."

-BCB

edited for spelling....

[22shooter]

I think that the less successful Sportsman's Warehouses are the one that are closing. There are four in Utah and all are going to remain opened. They must be making a profit and are in competition with Cabelas.

[Gube]

Our localized sporting goods stores out here in Alberta, "Whole Sale Sports", have also changed hands, and UFA was the company that purchased them. Shelves were fairly empty before and store hours were'nt that great. Hopefully with UFA as the new owners, we'll see inventory. They have already changed the hours. Opened 7 days a week and 9 till 9 mon through friday.

[Sidewinderwa]

Gube, how long ago did UFA take over the sporting goods store? I'm working in one of the UFA owned Sportsman's Warehouse stores and wondering how long it takes for them to get the shelves full.

[Gube]

I believe it was announced last fall and UFA officially took over ownership of Wholesale sports on Jan 1.

[Sidewinderwa]

Gube, I take it that the shelves are not stocked back up yet? I am hoping that it will just take a few weeks to get our shelves filled back up so I am interested it how they did for your stores.

[rpknaz]

CCI is way behind on primers and laid off one line of primer workers.

WOW, I saw primers on Gunbroker going for $60.00 to $80.00 per 1k plus shipping. You think they would be making a killing right now. Or is that the normal going price?


I would hate see Sportsman's go under, we have Cabelas and Bass Pro here too in AZ. and I really like Sportsman's the best. Hope they can weather the storm.

[Gube]

Gube, I take it that the shelves are not stocked back up yet? I am hoping that it will just take a few weeks to get our shelves filled back up so I am interested it how they did for your stores.

Shelves are still the same. Hoping that will change in the next little while. They are also opening up another store in south Edmonton. Don't know where they are going to find the stock for it.
We have a new Bass Pro opening up in April just outside of Calgary which will be major competition for Wholesale sports. I would think that who ever has the stock (re-loading) will get the sales.