announced plans to close 29 of its doors in a bid to reduce its debt levels. At
the same time, it reached an agreement to sell 15 of its locations to UFA
Co-operative Limited, of
Sportsman's Warehouse had reached an agreement to sell a majority interest in
the company to UFA Co-operative Ltd.
statement, Stuart Utgaard, chairman and CEO of Sportsman's Warehouse, said both
the store closings and sale of 15 stores were designed to improve liquidity.
is hoped that these actions will enable the firm to go forward as a viable
entity with approximately 2,300 employees,” said Utgaard.
Before the closings and
sale, Sportsman's Warehouse operated 67 stores in 29 states. Sportsman's
Warehouse is privately owned, with revenues of about $800 million.
The stores being closed
are in: Aurora, CO; Coon Rapids, MN; DePere, WI; Henderson, NV; Lafayette, IN; Las
Cruces, NM; Las Vegas, NV; Legacy, TX; Memphis, TN; Nampa, ID; New Berlin, WI; Oklahoma
City, OK; Pittsburgh, PA; Pocatello, ID; Roanoke, VA; Rogers, AR; Round Rock,
TX; St. Cloud, MN; Sioux Falls, SD; Southaven, MS; Visalia, CA; Wichita, KS;
and Woodbury, MN.
Stores being sold to UFA
Co-operative Limited include Bend, OR; Bozeman, MT; Burlington, WA; Coeur
dAlene, ID; Fargo, ND; Federal Way, WA; Helena, MT; Kennewick, WA; Lacey, WA; Missoula, MT; Portland, OR; Salem, OR; Silverdale, WA; Spokane, WA; and Vancouver, WA.
Co-operative Limited is one of
most dynamic enterprises.
largest re-seller of diesel products serves rural communities throughout
with a construction division and an unmatched network of retail stores and
petroleum outlets. With more than $1.8 billion in annual revenues and 120,000