MEC announces new Canadian ownership -Press Release
MEC announces new Canadian ownership -Press Release
www.mec.ca
MEC announces new Canadian ownership -Press Release
20 comments
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MEC is no longer a co-op? Can I get my five dollars back?
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Hasn't been for a few years I believe.
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More than a few
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The Board / Leadership voted in by the Coop members apathetic voting turn outs bankrupted the coop, then under creditor protection the assets where sold off.
This all happened in 2020, 5 years ago. The fact you didn't notice till now sort of proves the lack of coop member engagement for really important votes before the end.
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Haven't been back since the coop was deliberately bankrupted. No plans to.
20 comments
MEC can forever go fuck themselves. They broke the co-op to sell themselves to private equity and now want to wrap themselves in the flag? Never.
They were already under creditor protection when the sale happened. You can blame the old board for bankrupting the co-op, but the private equity acquisition was handled by the courts
A small number of board members biased the vote to get moreof their friends onto it. The now-majority proceeded to run the co-op like a for-profit business, expanding for growth's sake, and ensuring that if (when) the co-op failed, they'd make out like bandits. They then voted to violate the charter of the company, declare themselves a for- profit corp, and sell to US investors.
Those fuckers didn't even pay out the shares to us owners. They stole the co-op from us.
Poor engagement from the coop members lead to voting in an ineffective board and management that lead to the coop going bankrupt.
The “coop” did themselves in.
Former member here...
Exactly. Fuck MEC. Will never go back. Plenty of other for profit stores selling overseas made stuff anyway, if thats what i'm looking for
Unless i see some real, tangible changes back to its co-op values, i won't go back. Don't tell me about your "vision" of Made in Canada (deliberate avoidance of "product of canada"?)
And REI is following in their footsteps.