UFA Announcement | Wholesale Sports Closure | UFA Co-operative Ltd.

UFA Announcement

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​Wholesale Sports, Canada’s Outdoor Outfitter, to Close Its Operations

​Thursday, September 14, 2017

Dear UFA Member,

In business, it is never easy to bring news such as this that I bring forward to you today. Together with our Board of Directors, our co-operative has made a very difficult business decision to conduct an orderly wind down of the Wholesale Sports Canada Ltd. ("Wholesale Sports") business.

While UFA is showing strong financial results, we must assure you that the orderly wind down of our Wholesale Sports operation was a strategic business decision. An extensive review process was conducted, which included evaluating numerous options for the Wholesale Sports business. However, the increasingly competitive retail environment, the continued shift to on-line purchases and overall slowing of consumer discretionary spending as a whole, including in the outdoor industry, were too strong to overcome to drive a successful business model for the Wholesale Sports operation.

​We want to let you know we fully intend to treat all Wholesale Sports employees with utmost respect during this difficult transition. To try and lessen the impact of the closure, there is a UFA senior leader at each of our store locations today. That leader will work with a human resource professional along with a representative of the asset management professionals, Gordon Brothers, and the specific store manager to ensure an orderly process. Each employee will receive an individual letter today tailored to their specific employment situation, which will hopefully provide them with some comfort in today's decision.

Once again, please know this difficult decision was made in the best interest of our members and the co-operative. It allows UFA to focus on managing its core business of agriculture and petroleum, while continuing on a course that solidifies a position of strength within Alberta's agriculture industry for many years to come.

Kindest Regards,

Carol Kitchen
President/Chief Executive Officer
UFA Co-operative Limited

Kevin Hoppins
Chairman of the Board
UFA Co-operative Limited