Sportsman's Warehouse files for Chapter 11

By: Associated Press Email
By: Associated Press Email

The Grand Junction Sportsman's Warehouse location won't be affected by the company's recent filing for Chapter 11 bankruptcy protection.
Sportsman's Warehouse officials say 29 stores will remain open, 23 are closing and 15 have been sold. The only store in Colorado that was closed was the Aurora location.
The Midvale, Utah-based national outdoor retailer Sportsman's Warehouse has filed for Chapter 11 bankruptcy protection.
The company filed for the protections in a Delaware court last Saturday.
The 23 store closures put 1,700 employees out of work.
It was announced in November that Calgary, Canada-based UFA Co-Operative Ltd. was seeking to purchase a controlling interest in Sportsman's Warehouse.
But Sportsman's Warehouse Chairman and CEO Stuart Utgaard said Sunday that the deal fell through, with UFA choosing to buy 15 stores and not taking a majority position in the privately held company.
Utgaard said that put Sportsman's Warehouse in a precarious financial situation.
(COPYRIGHT 2009 BY THE ASSOCIATED PRESS. ALL RIGHTS RESERVED.)


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