MEC considered an appeal to its members for a bailout before it agreed to a private equity deal

    A MEC store in Toronto in October 2019. Shutterstock

    VANCOUVER — The leadership of embattled outdoor retailer MEC considered asking the co-operative’s more than 5.7 million members for funding before making an acquisition deal with an American private equity firm, but decided that approach was “impracticable to impossible,” newly released court documents reveal. 

    Members hoping to prevent the deal from closing and instead bail the co-op out themselves fail to recognize just how much money the retailer needs, said the chair of the special committee that recommended Kingswood Capital Management privatize the retailer.

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