Vannís To Liquidate - Page 2 - Home Theater Forum and Systems - HomeTheaterShack.com

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post #11 of 18 Old 09-25-12, 11:12 AM
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Re: Vannís To Liquidate

Quote:
Mike P. wrote: View Post
Vann's is going bankrupt because:

in 2010, Vann's began selling outdoor and recreational clothing through a website called bigskycountry.com.

"This endeavor diverted the investment of financial and staff resources at a critical time for the core business and did not take advantage of Vann's experience or reputation in its traditional product line," Vann's said in court documents.


http://online.wsj.com/article/SB1000...118094808.html
Thanks Mike P for the full story on this.

I am surprised they tried to expand their business outside of the AV specialty. I guess they thought to diversify and add other items but in the end it didn't work out..
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post #12 of 18 Old 09-25-12, 04:25 PM
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Re: Vannís To Liquidate

It will be interesting to see how they handle the liquification of all their assets.
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post #13 of 18 Old 10-01-12, 07:03 PM
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Re: Vannís To Liquidate

I wonder how the industry in general is doing? are there companies that are doing okay?its almost like people have forgotten how to make a profit in this country except for apple...low cost everything is great for consumers... unless you want something that is great quality for reasonable money I would rather pay 1500 for a receiver than 250 because I want it to sound good,off course some people dont think you can get a good receiver for 1500 they think 1500 is kmart money
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post #14 of 18 Old 10-01-12, 07:30 PM
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Re: Vannís To Liquidate

I think a lot of AV retailers are still doing fine - but they don't have B&M storefronts to pay for. It will be interesting to see how things progress.

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post #15 of 18 Old 10-03-12, 05:45 PM
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Re: Vannís To Liquidate

There are also lots of retailers who do have B&M storefronts who are doing fine. Virtually all of them make profit from services and custom design and installation services, integration, and/or commercial sales. Most of the retail profit is in the audio side, with video being effectively a loss leader or me-too sale. Some make it on the really high end of video, but for the most part, the services they sell are where they stay in business.

Box movers like Vann's have little to justify their existence other than people who just don't want to bother to shop around, which is a shrinking market.

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post #16 of 18 Old 10-15-12, 12:01 PM
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Re: Vannís To Liquidate

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+1 : what on earth were they thinking?
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post #17 of 18 Old 10-15-12, 01:19 PM
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Re: Vannís To Liquidate

B&M stores that will survive are the specialty stores (non-chain) that cater to the audio/video person who wants a quality product, local service/return/repair, and high-end audio/video items. Chains will only survive if they sell more then just audio/video (Best Buy, Sears, etc) and sell lower 'quality' products.
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post #18 of 18 Old 10-15-12, 01:19 PM
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Re: Vannís To Liquidate

OH! And I'm hoping Vann's sells off their on-line inventory at 'great' prices (I won't hold my breath).
I visited their site numerous times but their price was always higher then others.
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