When did MEC change its logo?

2013
Back in 2013, MEC shifted our logo from a mountain icon to a simple green square. The response was, well, mixed. Actually – mixed might be an understatement. The response was that people really loved the mountain.

When did MEC change to company?

18 June 2013
Rebranding. In 2012, when MEC had 15 stores, its marketing name was changed from Mountain Equipment Co-op to just MEC, to reflect the changed focus of the organization. On 18 June 2013, Mountain Equipment rebranded their logo, replacing the twin mountain peaks with a green square containing the text “MEC” in bold.

Why is MEC going out of business?

In 2020, after years of mounting losses, and saddled with more than $70-million in debt, MEC’s balance sheet was in no shape to withstand the body blow of COVID-19. Even spiking e-commerce sales couldn’t make up for losses from mandated store closures and lockdowns.

Will MEC change name?

Mountain Equipment Co-op announced today that they are rebranding as Mountain Equipment Company which is a play off of their MEC abbreviation. “The symbolic peaks represent MEC’s unwavering commitment to inspiring and enabling people to get active outside by providing trusted outdoor gear and advice.

Did MEC sell out?

Iconic Canadian outdoor retailer Mountain Equipment Co-op has been sold. As part of the deal, MEC will no longer operate as a member-owned cooperative.

Did MEC get sold?

Is MEC really a coop?

The company, founded in 1971 as Mountain Equipment Co-op, may have dropped that last word from its rebranding in 2012, but it was still technically operating as a co-operative until the sale. Unlike a conventional business, a co-operative is owned and managed by members, who set policies and make decisions.

Is MEC in trouble?

To illustrate, net operating losses of MEC are $80 million for the period since 2017. The issues arising from increased costs, debt load, and liquidity strains continued into 2020, as evident in the fiscal year ending Feb. 23, 2020 – MEC experienced a net loss of approximately $22.7 million.

Is REI and MEC related?

MEC was originally the brainchild of six Vancouver mountaineers who started in the 1970s making small, cross-border runs to outdoor equipment retailer REI, whose co-operative structure MEC shares.

Can I get my $5 back from MEC?

During the transition from a co-operative to a private company, members would have to claim themselves as creditors to stake a claim on their $5 shares. But Claus says its “highly unlikely” that members would get their share value back.

Who bought out MEC?

Kingswood Capital Management, LP
MEC, which has about 5 million co-op members, will become a privately-owned company. VANCOUVER, British Columbia (BRAIN) — Mountain Equipment Co-op, Canada’s outdoor gear co-op, has agreed to be acquired by Kingswood Capital Management, LP, a Los Angeles-based investment group.

Is MEC no longer a coop?

As part of the deal, MEC will no longer operate as a member-owned cooperative. It was granted protection under the Companies’ Creditors Arrangement Act, allowing it to continue operating while the transaction and other elements of the plan are completed.