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Description: Lots of Canadians love their MEC – the Mountain Equipment Co-op. MEC’s stores and online outlets offer Canadians the opportunity for well-made and reasonably priced sport gear and clothing, as well making many Canadians shareholders of the co-op for a nominal fee. But the model no longer seems to be working well, and after some financial reverses, MEC is being sold to Kingswood Capital Management. MEC hopes to keep at least 17 of its stores open while offering employment to 75% of its staff.

Date:  September 15, 2020

Source:  torontosun.com

Link: https://torontosun.com/business/money-news/mec-to-be-acquired-by-private-l-a-investment-firm

 

Discussion points:

1) Have you been a MEC member and shopper? If so, how do you feel about these changes?

2) How might the COVID-19 crisis have impacted MEC’s sales?

3) Chapter 1 of Wiley’s Financial Accounting: Tools for Business Decision-Making, tells us about the four financial statements and the basics of what they are about. Examine the 2019 MEC financial statments with your classmates and determine what stands out for you. http://meccms.wpengine.com/wp-content/uploads/2017/06/2019-02-24-Mountain-Equipment-Co-Op-FS-AR_digital-signatures.pdf

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