REI launches in-house electric bikes, showing off affordably priced Shimano mid-drives

FlatSix911

Well-Known Member
Region
USA
City
Silicon Valley
I remember reading earlier they were putting the huge HQ on hold...


It's already a done deal... the campus was just sold to Facebook for $368 M USD.

REI should now have some additional funds available for investment in EBikes! ;)

 

J.R.

Well-Known Member
Region
USA
I did a search before I initially posted and saw that they decided to sell their new HQ building, but that isn’t bankruptcy of the company, but an intelligent move to cut costs during the pandemic and many management employees working remotely. I found lots of stories pondering about which retailers might go bankrupt in the near future. I also found a story about a bankruptcy case involving a real estate lease at one of their stores some years ago, but I was never able to find a story about REI going bankrupt sometime in the last five years. I found that there is at least one company with the stock exchange abbreviation of REI, but it isn’t the Recreational Equipment, Inc., that we are discussing here.

Could you please post the link to the bankruptcy story that you found? Thanks.
Not a pretty story.

 

SoCalDave

Member
;)

Hi, Thomas,

Arcom first posted that "Perhaps the ebikes will keep REI from going into its second bankruptcy in five years?" After reading that, I was really surprised, as I had never heard that REI had gone into bankruptcy ever. Before posting my response to Arcom, I did multiple Google searches on REI bankruptcy, Recreational Equipment, Inc. bankruptcy, etc., and did not find anything to corroborate Arcom's post, hence I posted a request to Arcom to please post a reference to the story. He has not replied.

You then wrote into the thread and stated, "A member since 1967. A quick search and you’ll see the bankruptcy is quite current. Big bummer!". I then posted that I had already done searches (before even posting in the thread for the first time) and could not find anything to corroborate the bankruptcy story. I then politely asked you "Could you please post the link to the bankruptcy story that you found? Thanks.", as none of the numerous links that I found agreed with your bankruptcy claim.

In your most recent post, I realize you are attempting to poke some fun at me for being too lazy or stupid to Google something. And if it were actually the case that I had not done a thorough Google search, I'd apologize and laugh at myself. But I have done the search in various ways, and read the stories, and I am not finding anything to corroborate what you are claiming. Some of the links, if you simply look at the summary that Google returns, imply that REI has filed for bankruptcy, but when you actually read the story, you find that a competitor to REI in some regional area has filed for bankruptcy.

The links that you found with your suggested search (even with the incorrect spelling of equipment) are all of the same links that I found before you first posted in this thread, and which I found and read before even I first posted in this thread.

I find EBR to be a useful site for learning. I would hate to see a false story about a big seller of bicycles, REI, propagated on this site. On the other hand, if REI has filed for bankruptcy, I think it is important to know.

So, once again, you made your joke, but could you now please post a specific link that shows that REI has filed for bankruptcy in the past or is currently filing for bankruptcy? I have done numerous searches and have not found such a link.
 

SoCalDave

Member
Not a pretty story.


In the story that you link, there is no mention of REI filing bankruptcy. The story discusses layoffs at REI, which of course is happening at many companies during the pandemic. Fortunately REI has both a physical store presence, and already had a strong online presence prior to the pandemic, which is working to their advantage as their stores were temporarily closed (now re-opened for some time). The bankruptcy mentioned in the article is a clothing company New York & Co., owned by the parent company RTW Retailwinds, neither of which has anything to do with REI.
 

Taylor57

Well-Known Member
In the story that you link, there is no mention of REI filing bankruptcy. The story discusses layoffs at REI, which of course is happening at many companies during the pandemic. Fortunately REI has both a physical store presence, and already had a strong online presence prior to the pandemic, which is working to their advantage as their stores were temporarily closed (now re-opened for some time). The bankruptcy mentioned in the article is a clothing company New York & Co., owned by the parent company RTW Retailwinds, neither of which has anything to do with REI.

I looked as well and could not see a BK.
 

J.R.

Well-Known Member
Region
USA
In the story that you link, there is no mention of REI filing bankruptcy. The story discusses layoffs at REI, which of course is happening at many companies during the pandemic. Fortunately REI has both a physical store presence, and already had a strong online presence prior to the pandemic, which is working to their advantage as their stores were temporarily closed (now re-opened for some time). The bankruptcy mentioned in the article is a clothing company New York & Co., owned by the parent company RTW Retailwinds, neither of which has anything to do with REI.
I read that story about REI in the summer, thought it a shame as I like the store I've gone to. Thought you'd want to know the info. I haven't read about bankruptcy. I hope ebikes will help them grow. Bankruptcy wouldn't necessarily mean they are out of business.
 

tomjasz

Well-Known Member
In the story that you link, there is no mention of REI filing bankruptcy. The story discusses layoffs at REI, which of course is happening at many companies during the pandemic. Fortunately REI has both a physical store presence, and already had a strong online presence prior to the pandemic, which is working to their advantage as their stores were temporarily closed (now re-opened for some time). The bankruptcy mentioned in the article is a clothing company New York & Co., owned by the parent company RTW Retailwinds, neither of which has anything to do with REI.
OFFS! A modicum of effort will get the bankruptcy updates. Google is your friend!

 

Taylor57

Well-Known Member
OFFS! A modicum of effort will get the bankruptcy updates. Google is your friend!


Hi Thomas

I'm pretty sure REI has not declared BK, this article is regarding US Outdoor store which is down the street from an REI location.

 

SoCalDave

Member
OFFS! A modicum of effort will get the bankruptcy updates. Google is your friend!


The article you link to is behind a paywall for me. However, similar articles that I had already read from my Google searches that are not behind a paywall clearly show that a store named U.S. Outdoor Store in Portland filed for bankruptcy, and that there was an REI store nearby. The business that filed for bankruptcy was not REI. Some have suggested it was not the most wise business decision to open an outdoor store near an REI.

After a Google search, you need to actually read the story before drawing conclusions from it.

OFFS! Read the story - it takes a modicum of effort.
 
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FlatSix911

Well-Known Member
Region
USA
City
Silicon Valley
What happened to the common courtesy to members on the EBR forums? ... sadly absent here!
 

BigNerd

Well-Known Member
I think my Google-Fu is pretty good, also could not find a definitive article. Wiki makes no mention of a BK either.

Maybe this is like that dress image where only certain people see certain things. :)
 

FlatSix911

Well-Known Member
Region
USA
City
Silicon Valley
I think my Google-Fu is pretty good, also could not find a definitive article. Wiki makes no mention of a BK either.

Maybe this is like that dress image where only certain people see certain things. :)

Ha... great analogy!

 

BigNerd

Well-Known Member

Okay... back to ebikes... so what mid drive ebike can you buy at a local store for less than $1799?

BD is exempt (and so are Crazy Lenny specials). :)
 
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SoCalDave

Member
REI has been successful selling and servicing their own bike brand (used to be Novarra, now Co-op) as well as other mainstream brands, such as Cannondale. Although the Co-op ebikes are not personally what I am looking for, I'd be happy to suggest them to others as a lower cost ebike alternative to the mainstream brands, with the advantage that they can be set up and serviced at numerous REI stores around the country. The last three bikes that I have purchased, including my ebike, have been purchased at REI. I have been eyeing the 2021 Cannondale Topstone Neo Carbon 2 at REI, and might jump if it goes on sale, but, in reality, I really have no need for it and I am happy with what I already have.