This week’s feature image shows Francesco Guerriero on the right as he lands and releases a nice Chum Salmon, “keeping it wet”! Francesco is the owner of Skeena Waters Fly Shop in Terrace BC. A pro fly shop that can help you in many ways become better fly fishermen. To get started you can rent all fly equipment.
Noel Gyger reports. Snow and rain showers with highs to 0 degrees Celsius. Skeena River is fishing fair for Steelhead Kalum River is fishing well for Steelhead. Kitimat River is fishing well for local Trout and Dolly Varden Char. Zymoetz (Copper) River is fishing fair for Steelhead. Ocean fishing for Salmon, Halibut, Prawn and Crab good out of the ports of Kitimat and Prince Rupert.
If you would like to book a river fishing guide or ocean charter for 2017-18 contact Noel at, www.noelgyger.ca .
Maurice Sporting Goods has been acquired by private investment group, Middleton Partners, for $39 million.
Maurice Sporting Goods (MSG) has confirmed that Middleton Partners is the new owner of the company.
Before filing for bankruptcy in Delaware in November, MSG reached an agreement to sell itself to Middleton Partners, a private investment firm based in Northbrook, IL. Middleton Partners would act as the stalking horse bidder in the case in anticipation of a bankruptcy auction to explore a better offer.
The sales procedures were approved by a bankruptcy court earlier this month and the date to submit bids was set for December 22. Since no qualified bids arrived by that time, the auction was cancelled and Middleton Partners was deemed the successful bidder. The purchase price was $39 million.
The bankruptcy filing noted that Middleton’s offer came only after MSG reached a deal to be acquired by Peak Global Holdings, the parent company of Big Rock Sports, Head Quarters Taxidermy Supply and Bluefield Brands, in October, but it withdrew from the acquisition less than two weeks later.
MSG is one of North America’s largest distributors of outdoor sporting goods, and has a particular focus on the hunting and fishing products.
(Angling International – Anthony)
Here’s your chance to win a fishing outing with Italo Labignan, host Canadian Sportfishing TV series. If you are attending the Toronto International Boat Show, catch Italo at the BlueChem booth, take a selfie, post and get ready to go fishing!!
New Cabela’s owner, Johnny Morris, visited the company’s headquarters earlier this week and sent all employees an 11 page letter highlighting his plans for the retailer.
Cabela’s employees have been given a clearer indication of their future and that of the company’s Sidney, Nebraska, headquarters by its new owner, Johnny Morris, Bass Pro Shops’ Chief Executive.In a letter to all employees,
Morris reveals that $10 million has been earmarked for severance payments to staff who will lose their jobs.While not saying how many positions will be cut in the city, where Cabela’s employs 2,000 of its 6,800 population, Morris has detailed some of the operations that will stay following Bass Pro’s $5 billion acquisition earlier this year.
It will keep the company’s information technology division, which employs 125 people, and a ‘significant’ accounting operation, although he did not specify the extent or number of staff that would be retained. Its distribution centre has also been declared safe from closure.
Employees in Sidney will be consolidated into one of the Cabela’s of office buildings, with empty premises on the campus effectively donated by Bass Pro Shops to the city. They will be leased for $1 a year to any qualified businesses that may want to open an operation in Sidney.
Outside its home, the company’s credit card facility in Lincoln will remain along with the call centres in Grand Island, Kearney, North Platte and Lincoln.
Some employees will lose their jobs, said Morris, who revealed that Bass Pro has allocated an additional $10 million to extend benefits and severance payments.
In the last page of the letter, Morris highlighted the ‘realities’ of a competitive retail market and challenging outdoor/hunting segment. He added that more than 1,000 related stores have closed in recent years and described Cabela’s as being in decline since 2013, revealing that its retail business is on track to lose money in 2017.
The letter also pointed to research by Mercers, a human resources consultant, which highlighted that Cabela’s had more layers of management than similar companies, attributable, in part, to its status as a publicly-traded company.
“Cabela’s has been operating under the weight of an extremely heavy corporate payroll that is over two times greater than that of Bass Pro Shops to conduct relatively the same volume of business,” said Morris.
(Angling International – Anthony)
Noel Gyger reports. Sunny with highs to -12 degrees Celsius. Skeena River is fishing fair for Steelhead Kalum River is fishing well for Steelhead. Kitimat River is fishing well for local Trout and Dolly Varden Char. Zymoetz (Copper) River is fishing fair for Steelhead. Ocean fishing for Salmon, Halibut, Prawn and Crab good out of the ports of Kitimat and Prince Rupert.
If you would like to book a river fishing guide or ocean charter for 2017-18, you can contact Noel at, www.noelgyger.ca .