Is Mountain Equipment Co-operative (MEC) still coming to Saskatoon?
“It’s too early to indicate specifically how many stores or staff will be retained at this point,” MEC spokesperson Kathleen McDonald told 650 CKOM Tuesday.
On Monday, MEC announced that it was to be acquired by Kingswood Capital Management. According to a press release from MEC, the acquisition will “strengthen MEC’s balance sheet, preserve jobs and guarantee members continued access to authentic advice and high-quality products at competitive prices.”
Kingswood will acquire substantially all of the assets of the co-operative through the Companies’ Creditors Arrangement Act, ensuring a “thriving future” for the Canadian retailer.
McDonald said MEC’s buyer, Kingswood, has committed to retaining at least 17 of its retail locations.
But where does that leave Saskatoon’s new build?
That question has yet to be answered.
According to Press+Post, that deals with Midtown Plaza’s communications and public relations, it didn’t have any updates to share as of Wednesday.
On Nov. 20, 2018, MEC announced that it would open a new, 20,000 square-foot store in Midtown— the first of its retail locations in Saskatchewan.
“MEC’s new Saskatoon store will be a community hub, hosting classes, clinics and meet-ups to help and encourage more people to get outside and active. The programs will include weekly running meet-ups and in-store clinics to cover topics such as backpacking, navigating with map and compass and electronic navigation, as well as DIY bike repairs,” MEC’s press release at the time read.
In late-June, MEC told 650 CKOM that the targeted opening of the location, set for spring 2020, would be pushed back.
The targeted opening date then shifted to late-2021.
As of Thursday, 17 of MEC’s locations across the country have reopened following the COVID-19 pandemic. An additional five have yet to reopen, and according to MEC’s website are “temporarily closed until further notice.”
Malls ready for a shift in operations: U of S professor
David Williams is the associate professor of marketing at the University of Saskatchewan (U of S), and you can mark him down as one of the experts who don’t see the retailer coming to Saskatoon.
“(Midtown) probably has contingency plans already. I think it’s been known for some time, that MEC has over-expanded and will not be coming to town,” he said. “It may just be a bit more uncertain with COVID, for just who takes that place.”
Williams explained that COVID accelerated the demise of stores, some of which seemed inevitable. When looking at the longevity of malls within Saskatoon, Saskatchewan and North America, he said they are in a process of rejuvenation.
“It’s a setback for Midtown (if) MEC isn’t coming. I think there will be other tenants who can take their place. I think the thing to realise is it’s not that people aren’t shopping— we’re just shopping differently right now,” Williams said.
“That’s not just Midtown, if you look at other malls in town, they’re investing in changing the way they look, and their aesthetic and their feel.”
Williams said the open door stores are still hubs for online activity, but consumers still enjoy coming down, and seeing what they’re purchasing in person.
Instead of malls shutting down though, he explained that it’s time to find other ways to pull people in— especially with the COVID-19 effects.
“If you want to buy something, you can just buy online on Amazon,” Williams said. “You can come to the food courts, you can come to your doctor’s office, you can come to play virtual reality or you can come and look around and buy clothes immediately.
“I don’t know the answer for sure, because it’s COVID that puts a question mark over everything. I think malls are here to stay.”
As Saskatchewan transitions to fall, and then to winter, Williams said there is a lot still up in the air.
“We have winter coming here. The economy needs to keep going,” he said. “Stores are just as uncertain as we are in the recovery from COVID.”