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Edwin Watts Files Bankruptcy

Ugh those liquidation sales are a crap shoot. Circuit City got busted selling half-decade old computers at original retail price...and Computer Depot got busted marking up prices before the liquidators "slashed" them.

I hope these liquidations are responsible and actually have good deals.
 
rflores2323 said:
so all the clubs and apparel will go on sale for consumers or does Hilco come in and liquidate everything on their online auctions? How do you think it will work?
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Hilco comes in and much of everything from the "closed stores" will go to sale for consumers under the EW name. That is subject to two caveats (among others). They can do private sales via auction. They also can transfer merchandise among the other stores that are being closed.
 
Shook said:
Ugh those liquidation sales are a crap shoot. Circuit City got busted selling half-decade old computers at original retail price...and Computer Depot got busted marking up prices before the liquidators "slashed" them.

I hope these liquidations are responsible and actually have good deals.
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Yeah... since a third-party is coming in, you know their main goal is to make money (as opposed to simply cutting their losses). And since they have the ability under their agreement to set prices, you can bet that they will be doing their best to make a decent profit. They are very good at what they do.
 
I do believe there will be some going out of business sales...not sure if all stores will do that but....
 
interlooper said:
Yeah... since a third-party is coming in, you know their main goal is to make money (as opposed to simply cutting their losses). And since they have the ability under their agreement to set prices, you can bet that they will be doing their best to make a decent profit. They are very good at what they do.
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And I'm assuming most of the OEMs will pull their current stuff out, rather than marking it down, correct?
 
well if anyone has details on any of the TX stores going out of sale then let me know. I see the list of the stores closing on previous page but when are they actually closing?
 
BubbaPing said:
I think for the most part we got it covered ...91 stores total between the two of us although at any time something could change. But I'm pretty confident in my sources that this is the list for now.
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Sorry, my comment was along the lines of I'm not sure why they are keeping Southlake open since they've had a noticeable drop in business with the arrival of Golf Galaxy.
 
Only store to remain open in Atlanta area is the one in Buckhead. I am quite sure the top OEM's will be pulling out the latest equipment.
 
I'm shocked Brandon is staying open, but it's only ompetition is Dickson and sports authority, so it makes some sense. Hopefully the new owners will make big improvements.
 
Wake said:
I'm shocked Brandon is staying open, but it's only ompetition is Dickson and sports authority, so it makes some sense. Hopefully the new owners will make big improvements.
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I'm more shocked the Tampa store is closing and not the Brandon one. Damn it man, that store had been good to me for so many years :/
 
Mward said:
I'm more shocked the Tampa store is closing and not the Brandon one. Damn it man, that store had been good to me for so many years :/
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I HATED that store, but it has a lot more competition so I'm guessing that was a big part of the decision.
 
Wake said:
I HATED that store, but it has a lot more competition so I'm guessing that was a big part of the decision.
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Jerk, that store was awesome! Its closing is now all your fault!
 
A lot has to do with rent negotiations too. Edwin watts owns a lot of the stores and property already so rent is probably cheaper and makes more sense to keep them if they also pull in a decent yearly amount.
A lot of the new stores that sun capital went in an opened in the last 3-5 years closed because they opened them way too fast and way too many at a time.
i hope the new company goes in pays the guys what their worth and gets back in business like it use to be. You don't get customer service from good ol home town boys and shoot the sh$t with people at Dicks or sports academy etc....like you do at watts.....at least all the ones I've been too. I'm sure there are a few bad apples store wise
 
BubbaPing said:
You don't get customer service from good ol home town boys and shoot the sh$t with people at Dicks or sports academy etc....like you do at watts.....at least all the ones I've been too. I'm sure there are a few bad apples store wise
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Always been my experience at the Tyler store too. They treat me better than any other store out there and they all know my name (and my credit card number too I think).
 
SeeMoreGuy said:
Only store to remain open in Atlanta area is the one in Buckhead. I am quite sure the top OEM's will be pulling out the latest equipment.
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Dana Upshaw, down here by us, became a new retailer for Tour Edge Exotics because he'll now be the only other guy besides those in ATL to carry their stuff with the Macon store closing. He also dumped his Adams contract. Interesting.

Anyway, he saw that coming, I guess, and will now be getting some interesting gear in his store.
 
slodsm said:
Always been my experience at the Tyler store too. They treat me better than any other store out there and they all know my name (and my credit card number too I think).
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Exactly! Watts feels more at home to me compared to those other stores.
I've seen everyday known by name customers come in and sit and watch a whole golf tournament on tv at Watts and bring the whole store lunch just because they felt that close to them.
You just don't see that closeness and caring anymore from these big box stores, I prefer the good ol home town boy knowing my name and usually what I'm playing rather than someone who really could care less and just ready for you to leave.
 
Looks like the paperwork filed with the courts says the new owners are planning to keep the current stores and employees. That's nice to hear especially since there are 600 plus employees that could have been affected.


Sent from my iPhone using Tapatalk
 
ns1189 said:
Looks like the paperwork filed with the courts says the new owners are planning to keep the current stores and employees. That's nice to hear especially since there are 600 plus employees that could have been affected.



Sent from my iPhone using Tapatalk
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I believe it was 648 to be exact....but closing 42 stores will affect a good amount of those 648 unfortunately.
 
I'm glad to see the Little Rock store was on the list to remain open. Hopefully that will hold true as it's the best place to go within at least a 2 hour drive from my home.
 
How quick will they get started on the liquidation sales? Think they'll have them underway before Christmas or wait until the new year?

May go pick some apparel once the sales start.
 
I got a random email from them tonight for a store in once visited saying tomorrow everything was between 10-30 percent off.


KG

Just Tapping Away
 
flog2424 said:
I got a random email from them tonight for a store in once visited saying tomorrow everything was between 10-30 percent off.


KG

Just Tapping Away
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Got the same one tonight as well.
 
Another issue is the top dogs running the show. John Watson,Linda Barr and some other one I can't remember took in a 2 million dollar paycheck combined between the 3 of them a year!!!! Along with Watson receiving a $300,000 BONUS and Barr receiving a $150,000+ BONUS(for what?????)
Watson walked out on the company over the Thanksgiving holiday with no note or anything so he had to know he was about to be fired! He also ran at one time Reebok, Sunglasses Hut and HSN and we all know where those companies have gone.
hope the new company knows what fat to get rid of.
 
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