YIKES---went into Kanata Golftown this evening----looks like a morgue----4 staff---displays stripped etc etc. This has been in the works for awhile !!
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YIKES---went into Kanata Golftown this evening----looks like a morgue----4 staff---displays stripped etc etc. This has been in the works for awhile !!
What happens to all the Golftown Gift cards that are in circulation..would they still be valid under a new restructuring agreement?
I would be running to GT to spend them if I had a fistful of them, just in case.
I noticed on the GT website, the no longer sell Nike clubs, I was looking at the drivers and irons, I guess since Nike got out of the clubs, they were removed from GT online, I doubt they sold them all. Very strange...in my opinion....
Any inventory that is at the stores may stay there to be liquidated. Other than that, Nike probably wouldn't accept new orders.
Not that strange.
As soon as Nike announced their change in direction away from clubs that completely killed the value in store.
Golftown most likely owes millions to Nike, so it would not be surprising for them to take clubs back from GT.
I have seen many retailers send goods back for various reasons, sometimes issuing credit notes, other times sending other goods.
Spoke to a GT rep this aft wrt inventory. Tried to order Callaway XR graphite combo set a couple of weeks ago. Advised the were unable to order anything from anyone for a couple of weeks. Today I was advised that nothing can be ordered from suppliers until after the deal is finalized October 31st!
If you are looking for Nike clubs in Canada at a huge savings, my bet would be Sport Chek. They are the kings of forcing discounts from manufacturers and I would imagine they will make a huge push for Nike equipment to blow out.
GT Canada had tags on all the inventory today. Looks to me like they may be planning on moving most of their gear somewhere else
Did anyone drop in to the Train Yards store on the weekend? Are the packing up too?
Watch Golf Avenue as a possible landing spot for GT's inventory - they've been the main resellers of all the trade-ins over the years.
I saw that Golf Avenue had a ton of LH TM and Nike drivers on e-bay....
I was at Trainyards on weekend. And looks like they completed inventory. Nothing has moved all clothing racks still full.. they have brought in fall clothing. No deals still well over priced
Got the brand new Nike Vapor for my son last week for $199 at Sport check he's been eyeing that club since it came out! When he saw it at $199 he begged to have it has a Christmas gift LOL!!!!! I just need to find a 3 & 5 wood those were $149 but didn't have any lefty in stock.
Another Big Box opens... another "little box" closes...
Not the same industry, but Cabela's has just opened up and Le Baron has declared banktruptcy...
In the US and somewhat in Canada there is huge demand for stores like Winners, Marshall's, TJ Maxx etc...
Do people think an equivalent in the sporting goods world could survive? Will we eventually see a true chain of sporting goods liquidation stores or would the manufacturers not allow it.
The problem for these gt stores currently is that they are getting 0 new products in. That's right none of the stores are getting any products shipped to them because they owe so much debt to their suppliers. Apparently it's already been over a month in this situation.
Until the bankruptcy is settle/finalize with the new owners, nothing can be ordered from suppliers not even a custom order. This is not good for an already struggling store, hopefully this will get resolved soon. Expect store closing (Gatineau) , I don’t expect any big sale either they will just redistribute the inventory to surviving stores.
at least it's the end of the season and not the start of it. I'd imagine everything would be wrapped up in time for the holiday shopping season as they wouldn't want to miss that.
I have no idea what is happening to the whole economy---whether sporting good--clothing--housing---I have a feeling something is going to break soon---and I don't think it's good. It's almost like nobody gives a **** anymore and it's like take it or leave it.
Perfect examples:: small driveway clearing in Beacon Hill North 400.00---a smaller driveway south of Innis Rd 600.00. Give me a break !!
A 30 foot hedge trimming--265.00 from Meg's Tree Service-----90.00 from Cedar Estates
My rant for today :-)
Dicks just bought Golfsmith. Is Golf Town a Dicks now ?
Nope. Re-read the first link. The two entities are being sold separately.
Google "Ten Diminished Sporting Events" from Real Clear Sports. If history is any guide golf has seen its days. Kentucky Derby.
N.I.T. Heavy Weight Boxing. America's Cup. Pro Bowling. (In the 70s they were huge Sat afternoons) Even the World Series. 40
million viewers in the 70s. Now 13 million average, despite a population increase of 100 million. As a consumer I'm not complaining. Le Sorcier had a deal this year... 40 rounds with cart for $1099.
Found this earlier about GT store closings, looks like the Ottawa stores are safe for now:
Sources are indicating that eight Golf Town locations have closed, five in Ontario, including the original store in Scarborough, Brampton, Milton, Sudbury and downtown Toronto, although the downtown store is believed to be due to a prior lease agreement. Two closings are in Quebec, including Vaudreuil-Dorion and Candiac, with one in St. John’s, Nfld.
Headline in Financial Post today: "In a Debt Straightjacket"
Canadian households lead all G7 countries in debt loads.
100.5% for Canada in debt to GDP, compared to 78.4% for the US.
Same article shows retail sales down. Maybe this explains the
various store closings.
OK...I'm really confused. Do Russian lesbian hookers have something to do with what's going on with Golftown restructuring? Dammit, why is it always the Russians messing things up?!
Ha ha ha :-)