Co-op members were asking to have a say in the future of the beleaguered outdoor recreation retailer
The sale of Mountain Equipment Co-op will go ahead after B.C. Supreme Court Justice Shelley Fitzpatrick approved the sale and dismissed an application by members to have it delayed.
The legal challenge was mounted in collaboration with the B.C. Co-op Association, Alberta Community and Co-operative Association and Co-operatives and Mutuals Canada, “to protect the integrity of the co-op model and to put member rights at the forefront of the transaction.”
Mountain Equipment Co-op was launched as a grassroots co-operative in 1971 with six members and about $65 of operating capital.
The company grew to roughly 5.8 million members, according to court documents. Members paid a one-time membership fee of $5 to join, which entitled them to one share in the co-op and the right to shop at MEC.