that seems like a likely take on things. I recall not much detail being available, and the quick searching now pretty much confirms this.
I just remember being disappointed that a Canadian company didn't take it over, but in the end, one giant company with lots of money running it or an American one---is there a difference.
Bottom line, the changing world of sales has made it pretty darn hard for brick and mortar businesses like this to keep going--and I have no insight into answers or solutions, I'm just a joe-blow nobody with no big business knowledge.
Here is one observation -- I was glad that MEC continued to exist, even with a different form, part of that comes from someone who goes back a long time buying stuff from MEC.
Also while before they really never had "sales" as such, they do now, pretty much the same as all other outdoor gear stores, and I bought my new sleeping quilt and small tent on sale, so I'm glad I made these purchases from at least an entity that has brick and mortar stores here in Canada.
again, no more deep insights other than that.....
off topic ish, how are the mounting systems on the blue mec panniers holding up? I was always a bit suspect of mec brand panniers because of that and wondered how robust it is.