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DarkStar50

Total Hockey Files Bankruptcy

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41 minutes ago, iceman8310 said:

Pure hockey is going to buy them?

 

That is what I've been hearing but it didn't sound like it will be all of them, something to do with leased vs owned buildings.

 

Whatever does happen, this is another hit to the industry as a whole.

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it seems like it's getting harder and harder to run a brick and mortar hockey store. I used to dream of owning one even though I knew that where I live (the deep South) it wasn't practical. now it seems like it's not practical anywhere.

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A stand alone shop or in a rink that runs a tight inventory and avoids deep debt can be competitive. As for TH, the huge debt and constant expansion in a flat line sport helped do them in, not the warm weather or lack of Canadian teams coming to tournaments near their stores. That is about the lamest excuse I have ever heard for a business failure.

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"Diercks said Total Hockey has entered into a asset purchase agreement with Pure Hockey parent company TSG Enterprises, which has more than 40 specialty goods stores. The $22.5 million sale could close in August, according to court documents."

 

Sauce: http://www.bizjournals.com/twincities/news/2016/07/07/total-hockey-files-for-bankruptcy-protection.html

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eeye...yi..yie...

 

People who know me...know where I can be found when around one...@ Total Hockey.  Very good store IMO. 

 

Talked with a guy in Chicago who had a small mom & pop store and he mentioned (some years ago) nobody can compete with any of the big guys & this looks to be a downfall for them (getting too big)

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1 hour ago, chippa13 said:

 

That is what I've been hearing but it didn't sound like it will be all of them, something to do with leased vs owned buildings.

 

Whatever does happen, this is another hit to the industry as a whole.

I've never been a huge fan of how Pure hockey runs their stores.  I guess its working though

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42 minutes ago, chippa13 said:

Did anyone tell Bauer that they moved from Exeter to Chicago?

 

Accounts receivable is based in Chicago, not Exeter.

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15 minutes ago, iceman8310 said:

I've never been a huge fan of how Pure hockey runs their stores.  I guess its working though

 

I wouldn't go quite that far. Folks on the outside were probably saying that the Total Hockey model was working.

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Well this sucks, I usually do all of my hockey equipment buying from TotalHockey.

 

Guess it's time to switch to IW or back to HM. Tempted to try IW due to their 10-15% discount they offer.

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13 minutes ago, sparky1 said:

Well this sucks, I usually do all of my hockey equipment buying from TotalHockey.

 

Guess it's time to switch to IW or back to HM. Tempted to try IW due to their 10-15% discount they offer.

Part of what made Total Hockey great for me was that you could view inventory online AND know which store to go to while on the road.  Really helped. 

 

Picked up a pair of skates for my boy a few years back on a "4th of July special" and had to make a 3 hr drive up to Chicago to try them on and get them.  But the store had them in stock and held them for us to arrive.  They where regional so things could get to you really fast.  I can recall ordering stuff at 2am and getting it the day after.  Anything from the west coast seems to be close to 5 days and that usually makes it a week to receive (after a weekend).

 

HM has moved their warehouse to Texas and that seems to have sped up the most recent order from them (goalie gloves for the local youth association).

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All the equipment companies are taking sizable hits on these bankruptcies. Here Bauer's parent PSG loses another $15-20mm (including Easton and Maverik). PSG lost ~$24mm in the bankruptcies of Sports Authority and Team Express (baseball online retailer). These are not trivial amounts for PSG / Bauer whose stock is in the toilet. CCM / Reebok has to be feeling similar pressures from Adidas parent who wants to sell the unit. In the end, these companies will look to offset these pains with higher prices and tighter trade credit (poor mom & pop retailers). That $300 over-priced stick is going to cost a lot more next year.

 

My Pure Hockey experience has been mixed. I think their larger Marlboro, MA and Burlington, MA stores are great - only topped by Hockey Monkey with their indoor shooting rink. Where Pure Hockey struggles is in smaller stores and where they just have bad managers. It totally depends on the store manager and employees he attracts.

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3 hours ago, iceman8310 said:

Pure hockey is going to buy them?

I hope they've learned from the original Pure Hockey who was 5 million in debt when they went bankrupt and sold the name to current owners.

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35 minutes ago, scottswenson2 said:

All the equipment companies are taking sizable hits on these bankruptcies. Here Bauer's parent PSG loses another $15-20mm (including Easton and Maverik). PSG lost ~$24mm in the bankruptcies of Sports Authority and Team Express (baseball online retailer). These are not trivial amounts for PSG / Bauer whose stock is in the toilet. CCM / Reebok has to be feeling similar pressures from Adidas parent who wants to sell the unit. In the end, these companies will look to offset these pains with higher prices and tighter trade credit (poor mom & pop retailers). That $300 over-priced stick is going to cost a lot more next year.

 

My Pure Hockey experience has been mixed. I think their larger Marlboro, MA and Burlington, MA stores are great - only topped by Hockey Monkey with their indoor shooting rink. Where Pure Hockey struggles is in smaller stores and where they just have bad managers. It totally depends on the store manager and employees he attracts.

 

I disagree with you assertion on pricing. I am hopeful that the manufacturers will finally learn that gear prices have exceeded their upper limits and while they won't scale them back, they will at least keep them steady for a little while. The gear market has become a wait for closeouts and 20% offs for most of the consumers. It is only a small number of folks who buy newly launched gear and the reason is simple, it is just too expensive and the cycles are too frequent.

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3 hours ago, shoot_the_goalie said:

Wonder what this means for their Rewards program, which I just joined.

 

No joke, I just joined their platinum membership.  Should probably use the $60 rewards before it's too late.  :ohmy:

Edited by PaulieWalnuts

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To be honest was I was not impressed with the one in Pittsburgh. Their selection was limited to high end gear and their pricing seemed a bit over.  We usually just go to perani's now. Even though it is smaller it seems to have a better selection and prices.  As for pure hockey I have been to the one in Harrisburg and I was actually impressed.  Wasn't huge, decent prices, and employees were cool.  

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That is the first thing that crossed my mind when I heard the scuttlebutt a few weeks back but I figured he already had enough on his plate to bother him. Besides, JR is like a cat, always lands on his feet.

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"John Richard Boh of Highlands Ranch, Colo. (with an unsecured claim of $1.1 million)"

 

Even the former owner of Players Bench was never paid in full when he sold his business to TH.

 

Bauer and the big box boys made a deal with the devil over 7 years ago when they decided to go all in and not give a damn about the smaller shops that actually built the brand on the consumer level. It was bound to happen that the banks were going to want their $$ back eventually. In a sport with flat line participation, ridiculous rising equipment prices in the marketplace, and massive overproduction runs of all categories of gear, today's news is just another domino falling. I get the "human side" and hope for the best with JR, however, there has been a lot of collateral damage among the smaller shops for the past decade. The number of retail hockey doors that have closed is staggering over that time period. The fallout in the hockey industry is dynamic. Unfortunately, as mentioned before, the consumer has now been trained to wait for that discount on older product rather than buy the latest re-skinned product at full price. This is truly a monster of their own making. 

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