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Tens of thousands sign petition to ‘save MEC’ after co-op sold to U.S. firm

globalnews.ca

Mountain Equipment Co-op to a private U.S. firm.The sale was announced Monday, and will see Los Angeles-based private investment firm Kingswood Capital Management acquire the business and its assets.

As a result, the retailer will no longer operate as a member-owned co-operative.“People are really upset. They’re angered; they feel betrayed; they feel that there was no consultation here from the board — they feel the board has failed in its duty,” petition organizer Paul Finch told Global News.“What we’re really asking for immediately is that we want this stopped.

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