Ski Market files Chapter 11

[MR. evil]

Consumers are usually the first in line in a Chapter 11. No judge is going to approve a re-org plan that stiffs people with gift certificates and store credits.

Ya, it's only ok to stiff their creditors millions.

 

[ski_resort_observer]

http://www.boston.com/business/articles/2010/01/02/ski_market_files_for_bankruptcy/





A seriously crappy Christmas season. I'm sure the super-warm November was not kind to ski shops anywhere in the Northeast. You then pile on the recession and it's a recipe for business failures.

If your talking about the ski biz, haven't seen any news yet but retail sales nationally this past holiday shopping season was up 6.3%(combined online, phone and in-store sales) over last year, twice the rate the wizards of wall street expected/predicted.
http://www.pcworld.com/article/185553/holiday_related_online_sales_grew_15_percent_in_2009.html

 

[Geoff]

If your talking about the ski biz, haven't seen any news yet but retail sales nationally this past holiday shopping season was up 6.3% over last year, twice the rate the wizards of wall street expected/predicted.

Which makes them down about 2% from 2007. The whole "the world is ending" psychology turned 6 months ago. People started spending again after grinding it to a halt for a year.

For the ski biz around me, it's way off from a few years ago when the dollar was way down against the pound & Euro and Europeans were spending money like the high rollers in Aspen.

 

[billski]

Chap 11 follows a fairly uniform hierarchy of stakeholders. Employees And customers first then vendors then debt and lastly shareholders. It is likely any money losing progrns will be canned and operations significantly downsized. They try to do it quickly so as not to lose sales momentum. 30 days is aggressive 60 is typical and 90 plus is for the most complicated. Until then, everything is in limbo. Google "chapter 11 reorganization" for more.

 

[mondeo]

People have metioned internet buying of skis and such....I try very hard to NOT buy on the internet. When I'm in the market for skis I do "shopping" on the net then try to buy from a local shop using the internet pricing. As long as I get within 50 bucks I'm buying from a person and not this damn computer. I gotta touch it and see it with my own eyes plus I get the benefit of having a human available if there's a problem. Try it next time----maybe we can keep these shops in biz.

If I feel the need to step into a shop for any reason in the course of a purchase, I'll buy from a shop. One of the reasons they are higher priced is you're paying for the service. Getting the service and then buying somewhere else sorta seems like stealing to me. If it's something I don't need to see or touch, I'll buy online. Poles, bindings, I'll go for the best price. At least with bindings I'm still paying a shop for the mount. My first helmet I bought from a shop because I needed to figure out the fit, second helmet was another Smith so I figured it'd be close in fit to the previous one and went online. And so on.

 

[ski_resort_observer]

Chap 11 follows a fairly uniform hierarchy of stakeholders. Employees And customers first then vendors then debt and lastly shareholders. It is likely any money losing progrns will be canned and operations significantly downsized. They try to do it quickly so as not to lose sales momentum. 30 days is aggressive 60 is typical and 90 plus is for the most complicated. Until then, everything is in limbo. Google "chapter 11 reorganization" for more.

I think the IRS and the lawyers are at the front of the line.

 

[snowmonster]

We get them here at the Bush midweek I assume that means the bus trips are no more but I'm going to check, maybe it's a separate business.

The SkiMarket bus trips are done through another company, SnoSearch. I use these folks to arrange school ski trips.

 

[Philpug]

I am looking for a ceramic edging machine....I wonder if they have one.

 

[RISkier]

Consumers are usually the first in line in a Chapter 11. No judge is going to approve a re-org plan that stiffs people with gift certificates and store credits.

I'm certainly not knowledgeable about what happens under chapter 11 but in other cases I've usually seen things like gift cards and store credits being among the first in line.

 

[campgottagopee]

9 times out of ten yes! Not necessarily the lowest price but expert at equipment and sizing you up. Dudes mostly ski 7 days a week.
Worst overall are closest to major metro areas.
Yes! There are exceptions but very very few

Most of the dishwashers closest to the Mt ski 7 days a week too----are they the best dishwashers???

 

[Geoff]

Most of the dishwashers closest to the Mt ski 7 days a week too----are they the best dishwashers???

Lame line of reasoning.

A qualified boot fitter is the highest paid guy in the shop. It's one of the few non-management skiing-related service jobs that doesn't involve pouring or serving alcohol that pays well enough that ou can actually earn a living at it without working 3 jobs. Like anywhere else, "dishwasher" is a minimum wage job.

 

[campgottagopee]

Lame line of reasoning.

A qualified boot fitter is the highest paid guy in the shop. It's one of the few non-management skiing-related service jobs that doesn't involve pouring or serving alcohol that pays well enough that ou can actually earn a living at it without working 3 jobs. Like anywhere else, "dishwasher" is a minimum wage job.

Sorry dude, don't take it personal. Was talking in broad terms like Billski---that is all.

 

[hrstrat57]

+2 on dawgcatching. no runaround just good service from across the country!

Yep Village Ski and Sports is a LSS.....just not local to us....

Dawg(Scott) is the bomb!!!

 

[skidmarks]

I am looking for a ceramic edging machine....I wonder if they have one.

Get a Wintersteiger Trim 91 if you can find one. I does a great job