I am substantially bummed by the news that Mountain Equipment Co-op is under credit protection and has agreed to be acquired by a U.S.-based private investment firm. The firm has agreed to keep at least 17 of MEC’s 22 stores open, but MEC as we know it will be no more: it will be a privately held company, not a cooperative—another retail institution to disappear into the maw of private equity. I’ve been a member for decades and have had a lot of affection for the joint, even if I haven’t been buying as many things there lately as I have in the past. (Which might be the problem, if I’m not alone in that.)
MEC Sold to Private Investment Firm
Posted on 15 Sep 2020 by Jonathan Crowe Business
Jonathan Crowe blogs about maps at The Map Room and writes and reviews science fiction and fantasy; his work has been published by AE, The New York Review of Science Fiction, Strange Horizons and Tor.com. He lives in Shawville, Quebec.
Definitely a sad day for co-op business in Canada. I remember what used to be the Saskatchewan Wheat Pool with some fondness as well for similar reasons.