The shifting of the industry continues.
[Pelican Seeks Insolvency Protection - Paddling Magazine]
That’s a bad sign. They were probably too aggressive with acquisitions when the industry was on a roll.
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Oru kayaks (Solo stoves) is also hurting. https://news.bloomberglaw.com/bankruptcy-law/solo-stove-maker-plunges-64-on-going-concern-warning-1
Since Pelican owns Wilderness and perceptions, I wonder what that will mean for these brands? Or is this just going to affect them and not the other lines.
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Pelican cases aren’t made by the Pelican who builds kayaks - different companies.
They took on some debt to purchase Confluence, Advanced Elements, etc, and sales are down significantly over the last several years (this is true for many of the brands who build plastic rec kayaks). Tariffs, which will increase their US pricing, definitely won’t help their sales projections for this year, since the US market is a big part of their picture for the Canadian built boats (the Confluence boats are sold thru different sales channels, and won’t be directly affected by tariffs). Some restructuring is no doubt in order, and some segments will likely have to go away, but they have a good track record of meeting buyers where they are, so long term, they should be fine.
Yeah, we can keep compiling 3 trillion dollars in debt a year on top of the existing 36 trillion dollar debt in perpetuity .
During covid the market was saturated. The market has really stalled the last year or so. We know a retailer of high end kayaks and surfskis that went from selling 150 boatsa yeĂ r to 5 sold last year.
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150 to 5 ? …Makes you wonder how people like @Marshal make it, now him and others have Tariff pressure. Being an honest small business owner can not be easy.
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This post was flagged by the community and is temporarily hidden.
This post was flagged by the community and is temporarily hidden.
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When it is used as China does including industrial sabotage and patent and proprietary infringement, it is a Cancer adding to the National Debt and Deficit. They need a little slap across the face and a little wake up call and they are going to get it despite Reich style economic theory.
I see nothing wrong with this post, it is accurate, Flag it again.
Edit: Okay, now I get it, it was political and all the other “Political” posts by others were flagged also,so I guess that is fair and it is best not to go down the political rabbit hole but it was a response to another political statement.
Pelican kayaks are not made in China anyway. I can’t speak for all of the brands they acquired in recent years, but Pelican kayaks are made in Quebec and Pelican cases are made in Massachusetts.
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I think Trump’s stance is, the United States should not have a trade deficit with any country and he sees that as a result of favorable conditions granted by pervious administrations not putting the United States first. I get the feeling he believes there was some fraud involved too and this is his way of dealing with it. Unfortunately many small businesses get caught in the middle.
I have never met a pelican in debt. They are all solvent.
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Both true, though the companies only share a name, not ownership.
Pelican Sport (kayaks) manufactures in Quebec for their own brand names, and in South Carolina for the Dagger, Perception, and Wilderness Systems brands.
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Jackson is going to buy them both, they buy everything else.
Pelican is for sale, per news from Canada this week, and a buyer is reportedly lined up, but unlikely Jackson will be taking the keys.
Jackson buys everything, they will not be denied.