Bankruptcy on the horizon for Academy Sports & Outdoors? Who agrees with me?
The overall credit profile is getting worse by the day but we are still highly liquid, no debt matures any time soon (at least not in next three years) - so it may take a while before things become difficult. Overall, I think Bankruptcy will happen at some point, but we may have to wait 24 to 36 months before things get really bad.
Went into a store Saturday and stock was about half full at best. No buying going on and stock replenishment is all but gone. Asked associate why so bare and he said "waiting on a truck" and people "bought everything up"...
C-ap company. Top heavy hurt the company around 2015 with everyone battling to one up each other. Sad to see the culture shift in the company from customer first company to giving out vp titles like they are skittles. In their hay day they had the most extensive selection of sport wear at a great price. Unfortunately for them everyone got into the business which saturated it and they have been slow to adjust. Coupled that with a huge investment in inventory software that had little to no effect at reducing inventory positions on the floor. Their latest blunder was hiring numerous sams castaways to make high level decisions in where they were already failing. Good luck but definitely get out.
ASO is hanging on by a thin thread. If you compare its situation with other retailers, they have also been or are still in a similar situation, you will pretty much be able to see where ASO is heading.
I would advise all of you to find another better company to be with. Don't stay with a boat that has so many holes and has such a bleak future. Even if it doesn't go down completely, it won't offer you a bright future since it has none for itself. You deserve better.
No inventory
No buying
Layoffs
Short store staff
Poor atmosphere at stores and corporate
Go get um d—s, Scheels and Hibbett !
2022 is when the loan is due. Overseas suppliers are already trying to get their payment terms adjusted to be more in their favor, for risk of non or incomplete payment.
R.I.P.
It's a when.... not an If.... only a matter of time bankruptcy happens... only question is it chapter 7 or 11....
Winter is coming.
We will see what happens - the entire industry has problems
I think it's unlikely that we'll go BK...