sportsmans warehouse filed ch-11 bankruptcy today

huntazido · Mar 21, 2009

Looks like more bad news. Hopefully they will be able to recover. In the meantime, I'm guessing their already bare shelves will get even worse.

http://www.reuters.com/article/bondsNews/idUSN2141506420090321

Bill_in_SD · Mar 21, 2009

Talk about a worthy cause for a bailout!!!!
Bill

missalot · Mar 21, 2009

I'm wondering how this all plays out. I have read elsewhere that they were recently sold to a Canadien company. Are we to assume that this company has now filed for bankrupcy?

upmuley · Mar 23, 2009

No, that was only some stores sold to the Canadian Co-Op which has a ton of cash reserves. They are strong. Sportsmans typifies what got a bunch of US businesses in trouble - heavy leverage to overbuild stores based on foolish projections then not having the capital to make it through a rough patch. NONE of these businesses should be bailed out. They were poorly run at the top.

257Tony · Mar 23, 2009

>No, that was only some stores
>sold to the Canadian Co-Op
>which has a ton of
>cash reserves. They are
>strong. Sportsmans typifies what
>got a bunch of US
>businesses in trouble - heavy
>leverage to overbuild stores based
>on foolish projections then not
>having the capital to make
>it through a rough patch.
> NONE of these businesses
>should be bailed out.
>They were poorly run at
>the top.

I totally agree. Sportsmans would have been just fine if they hadn't tried to go big so fast.

littlejoe · Mar 23, 2009

Another sad part is the trickle down effect. The company I work for supplies a big supplier to SW. They have not been paying their suppliers and therfore their suppliers cannot pay people like us. Sad for everyone involved. I agree on the expansion being the downfall. They wanted to be as big as Cabela's and do it overnight. Sad.

littlebighorn · Mar 23, 2009

I saw that they are closing down a bunch of stores. Anyone know which ones? I frequent the Provo Utah store, and I am hoping they keep it up and running!

WapitiBob · Mar 23, 2009

go to SW web page. lists them there.

BUCKSPY · Mar 23, 2009

Sportsmans did a nice job allowing the little guy an opportunity to have some retail shelf space for small product manufacturers and sellers. Unfortunately some of these folks are totally screwed and could be financially ruined because of SW. Its pretty damn sad as its will have a real trickle down effect in the hunting industry out West. I'm sure many of these "little guys" will be sucking hind tit in the line to get paid. I wonder if they can even get the unsold merchandise back off the shelves.

muzz · Mar 24, 2009

Who would want to be like cabelas? Over priced and pricks working for them.

Sportsmans screwed the pooch!!

They had a awesome thing going.

RACKMASTER · Mar 24, 2009

I hated them..........However I'm sure some of the folks working there are not all stupid hicks..Cabelas has there roots deep and world class support for customers! sale is a sale ...
Bass has some of my purchases also and sale is a sale!

Rackmaster

bigthree · Mar 24, 2009

Who thinks that Cabelas is better service and price I think cabelas has great cust.services but there prices are high and when you go into the store there cust.services is not good but sportsmans warehouse was bad to.but cabelas is overpriced they have to pay for light bill in that place but they get huge tax shelters also for that.