Sportsman's Warehouse files for bankruptcy
 

I found this on a gun board I read.

A blurb on their website tells the tale.
http://www.sportsmanswarehouse.com/


Sportsman's Warehouse files for bankruptcy
http://www.reuters.com/article/priva...41506420090321

Quote:
NEW YORK, March 21 (Reuters) - Sportsman's Warehouse, a Utah-based sporting goods retailer, on Saturday filed for Chapter 11 bankruptcy protection citing a liquidity crisis triggered by declining sales and the global economic slowdown.

The company, which sells goods relating to fishing, hunting, camping and other outdoor activities, said it intends to operate 29 stores as a going concern, after already announcing plans to close 23 stores, and sell another 15.

It listed assets of $436.4 million and liabilities of $452.1 million, according to court papers.

The company is 25 percent owned by an affiliate of Seidler Equity Partners, according to court papers. The company said it has about 3,245 employees.

The case is In re: Sportsman's Warehouse Inc., U.S. Bankruptcy Court, District of Delaware, No. 09-10990.

(Reporting by Emily Chasan; Editing by Eric Walsh)

Re: Sportsman's Warehouse files for bankruptcy
 

Maybe they will have some nice going out of business sales on guns and ammo.

Re: Sportsman's Warehouse files for bankruptcy
 

There is a humongous store about 25 miles from me. It's a former Super KMart building. Aside from the booming firearms dept,,the rest of the store was always almost empty. I always had to scratch my head, and think how do these guys stay in business? I guess they couldn't.

Re: Sportsman's Warehouse files for bankruptcy
 

Wonder what happens to thier records of past purchases?

Re: Sportsman's Warehouse files for bankruptcy
 

ffl dealers are supposed to mail their 4473 forms and bound books to some warehouse in maryland c/o batfe. this is when they discontinue business selling firearms.

Re: Sportsman's Warehouse files for bankruptcy
 

Not all the Sportsman's store are going out of business. Just a select few. Right now the guns are at 5% off. Other items are 0 to 30% off. Last weekend they had 30% off camo clothing with an extra 20% off. It was nice! Sorry you were not there!

Re: Sportsman's Warehouse files for bankruptcy
 

Interesting....their website highlights a recent winner in a contest for a black powder rifle. Technically under bankruptcy law (if it's a total liquidation...which this might not be), they could seize that rifle from him and dispose of it to repay creditors. Wonder if that'll happen?

Re: Sportsman's Warehouse files for bankruptcy
 

Hmmm....wonder if there is any connection to Sportsmans Guide?

Re: Sportsman's Warehouse files for bankruptcy
 

Chit! I just called the local store and they will accept gift cards through the end of the month only. I got $50.00 to unload on a fishing rig for a five year old.:realmad:

Re: Sportsman's Warehouse files for bankruptcy
 

That's pretty ugly....

Shite like that is why I don't EVER do gift cards anymore. I'd rather just give someone plain ole cash....or prehaps silver.