Every new gun there is listed at MSRP. Who the hell buys at MSRP? If they had any good deals, it was like once in a blue moon that something good appeared in the used section. No surprises on them having trouble.
Every new gun there is listed at MSRP. Who the hell buys at MSRP? If they had any good deals, it was like once in a blue moon that something good appeared in the used section. No surprises on them having trouble.
I think it is Bass Pro Shop and not Gander that was merging/buying Cabelas. As to Gander, it's not surprising between their ridiculous prices across the board and the relatively uneducated sales people that they have lasted this long.
You gotta be there at the right time to get deals
last friday
I bought
10/22
ruger 22/45 lite
ruger mkii target
sig 226 west german
$1050 out the door
They focus too much on new and under price used guns which is where the money is in guns like cars
I bet the ATF can't wait to get ahold of those millions of 4473's if they go under.
I don't know why they mentioned the revolving credit loan. That is very standard for any large business to have.
Large businesses cannot guarantee that they will have the cash on hand available to make payroll, utilities, repairs, rent, property tax, etc etc etc every single day. So they get any extremely large revolving credit line on which they pay a very low interest rate. They may borrow $150,000,000 every day and pay it back with a 1/4 percent interest rate in two (2) or three (3) days. This saves(?) them from tying up several hundred million dollars in cash on their own.
I'm not saying the story in inaccurate, just "so what?" regarding the revolving credit issue. The article doesn't give the more relevant information such as their total debt and revenues.
This linked article Report: another outdoors retailer on brink of bankruptcy - NewsTimes does point out that Gander Mountain is currently in the process of trying a $5.5 billion dollar acquisition of Cabela's. Mayhaps they have overstretched themselves a tad? Or perhaps they are looking to time their "bankruptcy" with the Cabela's acquisition in order to avoid certain liabilities that may come with such an acquisition, such as a retirement program or heavy debt on Cabela's slde...? Yes, I am a bit cynical that way.
Regards,
Doug