Sportsmans Warehouse, Chapter 11

[Bassky]

Sportsman's Warehouse files Chap. 11 3/24/2009 Does this affect Lexington Store?
Midvale, Utah-based Sportsman's Warehouse filed for Chapter 11 bankruptcy protection on Saturday. The filing protects the company as it attempts a reorganization. Previously, the company had closed 23 stores and laid off 2,000 employees. The company had also transferred 15 stores to Canada's United Farmers of Alberta (UFA) cooperative.

Originally, UFA was to acquire 80% of the Sportsman's Warehouse chain, but after due diligence, UFA said it would no longer pursue the acquisition and instead take the 15 stores along the Canadian border as repayment for a capital infusion in late 2008.

According to the filing, Sportsman's Warehouse has secured $85 million in financing from GE Capital Corp. which will be available under the Chapter 11 protections.

Bassky

[know1]

I still have yet to even go into the one in Lexington. I guess I'd better hurry.

I did go over there on either a Friday or Saturday night recently and they were closed. It was only a few minutes after 8. Hard to stay in business if those are the hours you're going to keep.

[buzzking]

Ch 11 is restructuring...AKA...cut all your bad debt (old or low volume stores) and keep all the good ones....Lexington is new and still doing a fairly good amount of business from what I can tell. Its safe....for now...if you like that place...Its nice to go browse but I usually end up buying my junk at backwaters because SW doesn't carry much specialty stuff.

[Shimano4Life]

I have a wider variety of baits in my garage........

[smljaw]

You're right about the bait selection. It's horrible!

[BubbaBass1]

Ch 11 is restructuring...AKA...cut all your bad debt (old or low volume stores) and keep all the good ones....Lexington is new and still doing a fairly good amount of business from what I can tell. Its safe....for now...if you like that place...Its nice to go browse but I usually end up buying my junk at backwaters because SW doesn't carry much specialty stuff.

Buzzking- does backwaters carry bulk plastics? I have not been there in a couple years. Used to love that place. Not working in Lex anymore but worth the stop if I am down that way.

BB1

[buzzking]

BB1 they moved and under new ownership. They relocated across from Sam's Club on New Circle. I've only been in there once or twice since they moved and don't recall seeing much in the way of bulk plastics but all the other eye candy may have distracted me.

[SuperSprint007]

you can special order about anything from them...

[CMIDD]

Buzzking- does backwaters carry bulk plastics? I have not been there in a couple years. Used to love that place. Not working in Lex anymore but worth the stop if I am down that way.

BB1

What bulk plastics are you looking for?

[bob46]

I liked this place they had alot of plastics, they are strickly hunting and fishing and do not have all the junk that bass pro has. The sales people there always wanting to help you. When ever we go camping at horse park I disappear and drive down there

[mayracing]

Id rather drive to Gregs in somerset and and waste gas than go in that place. They never have anything I need.

[BPenrod]

I hope they come through it ok. i don't care for Backwaters, especially since they moved.