Latest news with #NextAdventure
Miami Herald
18-05-2025
- Business
- Miami Herald
Another sporting goods chain closing all locations, no bankruptcy
Not every business that closes follows the same path. Now, most businesses are like professional wrestlers. They hang on as long as they can and have a sad ending. Related: Popular sneaker retail chain closing over 100 stores It's very hard for a company, or at least for the owners of that company, to see the writing on the wall and make the decision to bow out gracefully. That's because, in many cases, someone who was successful always assumes that they're a minor course correction away from having that success again. But as market conditions change, the demand for specific types of retail shifts. You don't, for example, see a lot of typewriter repair shops or vacuum stores. Those were once crucial retailers, but their day has passed. In most cases, like with local video stores, retailers don't seen the end coming in time to make a major pivot. It does happen. There's a chain in New England that once rented videos which now offers tanning salon services. Don't miss the move: Subscribe to TheStreet's free daily newsletter That's a truly large pivot with no easy connection between the two businesses, but the owner realized that staying in video rental was a sure path to disaster. In some cases, however, owners can see the end and instead of trying to fight through it, burning every last dollar, they lean into it. That's what's happening with one popular outdoor goods chain that traces its history back to 1997. Next Adventure, a Portland, Oregon-based outdoor gear store, traces its roots back to two friends, Deek Heykamp and Bryan Knudsen. The two lifelong friends made major sacrifices to open their first store. They shared that story on their website. "For three-and-a-half years, Deek researched this "new and used" store concept by working in a handful of outdoor gear stores in Seattle and hit hundreds of yard sales in Portland and Seattle. During this same time, Deek had a successful shoe repair business with 12 different locations in two states, selling the majority of them to pursue his dream for what would be Next Adventure," they posted. His partner made some sacrifices as well. "In 1997, Bryan sold his house in Bellingham, Washington, and quit his job of 11 years at Les Schwab Tires to relocate to Portland with Deek to open the store in July of that same year," according to the website. Both partners put in the sweat equity to build the chain. More closings: Popular retail chain to close unprofitable store locationsBankrupt retail chain unloads store leases, key assetPopular discount retailer files bankruptcy, closes all stores "With two truckloads of used gear in 1,600 square feet of retail space, Next Adventure was born. Deek and Bryan opened Next Adventure in the heart of SE Portland in July 1997. At that time, this 'new and used' store on SE Grand Avenue was only about 1,600 square feet – no bigger than a small coffee shop," they shared. From there, the two built Next Adventure into a chain. Now, the adventure will soon come to an end, but on their own terms. The two partners decided to retire and close Next Adventure. They posted about their choices on the chain's website. "After 28 incredible years, founders Deek Heykamp and Bryan Knudsen are retiring. What began in 1997 as a 1,500-square-foot shop built on a dream has become a Portland institution - thanks to our amazing customers, staff, and community. As Deek and Bryan step into their next adventure, we'll be closing our doors with gratitude and pride," they shared. The company is winding down online orders. "We are closing our online store May 19 at 5 p.m. PST. So shop now while you still can! Due to increased order volumes, shipping times may be a few days longer than normal," they shared. Going-out-of-business sales will follow in all four of the company's remaining brick-and-mortar locations. "The sale begins Wednesday, May 28, 2025. Come early for the best selection - once it's gone, it's gone," the company posted. Next Adventure will also continued to honor its gift cards. "Gift cards (digital and physical) will still be accepted. However, no new gift cards will be issued after May 25, 2025," it posted. Related: Famous sporting goods store closing after 70 years, no bankruptcy For now, the company is still buying used gear. "We will stop buying used gear eventually; more information will be announced," it shared. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Miami Herald
14-05-2025
- Business
- Miami Herald
Popular outdoor retailer closing all stores, no bankruptcy
If you ask a retailer about the hardest thing regarding business right now, they'd probably tell you it's changing customer shopping habits. And if you asked a customer to share the most difficult thing about shopping, they'd probably say it's finding a new store after their old favorite one closed down. Related: Bankrupt retail chain gets possible billion-dollar rescue lifeline The fact of the matter is that retail is a difficult landscape, no matter which side of it you're on. On the business side of things, retailers have had to grapple with a tough past several years. Covid brought uncertainty, and with it, an unprecedented amount of closures. The American Bankruptcy Institute estimates that approximately 60% of businesses that closed during Covid did so permanently. That's largely because it became too hard to stay open when foot traffic went down to nothing in a matter of days. Plunging profits soon followed, and with no money coming in, keeping the lights on and moving inventory became a herculean task. So customers shifted their habits, too. With many of our favorite brick-and-mortar stores closed, most of us went online to find everything we needed. And now, five years later, many of us would still rather save the trip and order our stuff from easy and cheap e-commerce sites. This has created something of a difficult problem for many retailers. Most legacy retailers are native to the in-person world. They got their start the old-fashioned way, using brick-and-mortar stores to bring in customers and get to know them better. More closings: Popular Mexican chain closing all restaurants, no bankruptcyIconic mall chain shuttering more stores foreverMajor gym closing multiple locations after franchisee bankruptcyAfter Chapter 11 bankruptcy, beloved retailer closes all stores When large, digitally-native sites like Amazon began to grow in size and scope, many had to adapt their operations quickly or get left behind. Some, though, were able to continue as before if they were a local favorite or if their customers weren't swayed by online convenience. Still others tried to do two things at once: shift online and maintain a physical presence, which is expensive and complicated, even in the best of times. And in some cases, a retailer simply decides to hang up its hat, seemingly out of the blue. Such is the case for Next Adventure, a popular outdoor gear and apparel outfitter based in the Pacific Northwest. Headquartered in Portland, Oregon, Next Adventure has been in business since 1997 when it was founded by Deek Heykamp and Bryan Knudsen. Related: After bankruptcy, mall anchor begins going-out-of-business sales But both founders are looking ahead to retirement, and they made the decision to shutter all Next Adventure stores in the very near future. It will close the following locations: Central Eastside Portland flagship storeSandy storePortland paddle centerWarren paddle center Each of the four stores will put its entire inventory on sale in an "everything-must-go bonanza" beginning on May 28, 2025. "It has been the joy of my life to be part of such a great industry and work with our wonderful customers," Deek Heykamp said of the closures. "While retirement sounds pretty amazing right now, I will truly miss the camaraderie and community that we have built together." Related: Home Depot quietly makes a change that may enrage customers The surrounding Portland area continues to lose retailers as the high cost of operation, rising crime, and homelessness plague the region. Other retailers nearby, including REI and Andy and Bax, have also left in recent years. REI left the Pearl District in 2023, saying it "had its highest number of break-ins and thefts in two decades, despite actions to provide extra security." It added it had spent over $800,000 on security measures in 2022 alone, "yet, we still experienced 10 burglaries, including one event that shut down our 14th street entrance for more than two months," the company said. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Daily Mail
13-05-2025
- Business
- Daily Mail
Beloved Oregon outdoor store to close all locations
A long-standing outdoor store is closing all of its Oregon locations, marking the latest business casualty in Portland as crime remains at 'historic heights'. Next Adventure, a beloved outdoor gear store founded by childhood friends Deek Heykamp and Bryan Knudsen in 1997, swiftly grew into a 'beloved Portland institution' throughout its three decades in operation, making nearly $24 million in annual sales at its peak, Portland Business Journal reported. The business eventually expanded to four locations across Oregon - its flagship store in Portland's Central Eastside, another in Sandy, and two paddle centers in Portland and Columbia County. However, all four locations are set to close later this year, the owners announced Monday afternoon. 'We're entering a very uncertain time, there are challenges and we're in our 60s,' Heykamp told the Business Journal. 'So when you're in uncertain times, and you make decisions as a leader, it's my and Bryan's responsibility to look at our business and make good decisions on how we can build stability and build the best possible outcome for everybody,' he added. 'And after a lot of work, we came up that this is the right direction to go.' Next Adventure began in a 1,600-square-foot retail space on S.E. Grand Avenue, selling used outdoor gear. Over the years, the company became an iconic Portland business. Its flagship store was particularly known for its 'Bargain Basement', featuring heavily discounted supplies and closeout sales. This year marks the end of an era for the childhood friends, who considered selling the business but ultimately decided that, given the struggles in retail, closing up shop would be the smartest move. Citing 'uncertain times' and 'challenges' as factors in the decision, Heykamp described 'the current business climate and the challenges that we face as an industry, as a nation and as a city', as reported by the Business Journal. 'There's macroeconomics, there's big things, there's little things, there's interest rates, there's all kinds of things that we as business people face,' he told the outlet. As the store officially closes, Next Adventure will hold a retirement store closing sale, with all outdoor gear inventory available for purchase starting May 28. While no exact closing date has been scheduled, the company stated that, 'due to the large volume of merchandise, it is anticipated that the sale will last into the summer', according to the Business Journal. The owners are now encouraging anyone who has made outdoor memories thanks to the store to stop by one last time and grab a deal before their next adventure. 'When we travel for trade shows, we have had people come up to us in the airport and tell us their story of how, because of Next Adventure, for the first time they were able to get out skiing or snowboarding or go hiking,' Heykamp told the Business Journal. 'That's got to be at the top of my list of favorite moments,' he added. 'Ones where we know that we touched people's lives.' 'The fact that we started this business to hang out together and to do fun adventures together, and now we get to do that full time in retirement, it sounds pretty exciting to me.' Next Adventure's closure will be a particularly big blow for the city, as Portland and its stunning Oregon surroundings have long been hugely-popular among outdoorsy types. However, its just the latest business in Portland to close its doors, particularly in the outdoor retail sector. After nearly two decades, outdoor gear co-op REI closed its only Portland location, choosing not to renew the lease on its Pearl District building. The reasoning was simple: rising security costs due to the increasing crime and theft plaguing the city. In a 2023 letter to members, the retailer said it would close the city's downtown store, which has ' had its highest number of break-ins and thefts in two decades '. REI spent $800,000 on additional security in 2022, and said that it did not believe a downtown Portland location would be possible in the near future. Six percent of burglary callouts in downtown Portland in 2022 were to REI, according to KOIN News. In November of that year, a car rammed its storefront during a dramatic robbery. REI installed new safety glass, spent heavily on security guards and even stationed a 24-hour security trailer outside its store in a bid to stop theft - but all to no avail. At the time, the company's move was just the latest in a string of retailers pulling out of the city amid skyrocketing crime. Cracker Barrel, Walmart and Nike all closed stores in the area, citing underperformance and theft. 'In recent years, Portland has been dealing with increased crime in our neighborhood and beyond,' the 2023 letter to members read. Public data showed that since the pandemic, more than 2,600 downtown businesses have filed changes of address with the US Postal Service to leave their downtown ZIP codes. While Portland has seen improvement in overall crime rates, issues continue to persist downtown at 'historic heights' - particularly with car and retail theft, according to Axios. However, a recent survey showed that efforts to revitalize the city are having an impact, with the majority of residents expressing increased optimism about the future, citing improvements in public safety and cleanliness, KOIN News reported . 'Organized crime is having a hard time doing business downtown and that's exactly what we want,' Downtown Portland Clean & Safe Executive Director Mark Wells told the outlet. 'A year ago, you would walk around, it would be very common to see open drug use and open drug dealing,' he added. 'It still exists, for sure, but it's dramatically decreased, and that adds to that sense of safety and security.' Downtown Portland Clean & Safe, a non-profit providing 24-hour dispatch and cleaning services, has left nearly all 300 participating business satisfied with the results. According to the survey, business experiencing theft and shoplifting incidents dropped from 47 percent in 2023 to 30 percent in 2024. The number of businesses reporting the need to repair windows or any other physical damage dropped from 67 percent in 2023 to 47 percent in 2024. Additionally, 57 percent of businesses expressed a renewed comfortability about being located downtown. However, there are still areas in need of improvement. While nearly half of business reported employees quitting due to safety concerns in 2023, the figure reduced to just under one-third last year. 'We saw about a 17 percent decrease in those numbers,' Wells told the outlet. 'But a third, you know, that's still too high.' Want more stories like this from the Daily Mail? Visit our profile page and hit the follow button above for more of the news you need.
Daily Mail
13-05-2025
- Business
- Daily Mail
Beloved outdoor store shutters ALL locations after three decades in crime ridden city
A long-standing outdoor store is closing all of its Oregon locations, marking the latest business casualty in Portland as crime remains at 'historic heights'. Next Adventure, a beloved outdoor gear store founded by childhood friends Deek Heykamp and Bryan Knudsen in 1997, swiftly grew into a 'beloved Portland institution' throughout its three decades in operation, making nearly $24 million in annual sales at its peak, Portland Business Journal reported. The business eventually expanded to four locations across Oregon - its flagship store in Portland's Central Eastside, another in Sandy, and two paddle centers in Portland and Columbia County. However, all four locations are set to close later this year, the owners announced Monday afternoon. 'We're entering a very uncertain time, there are challenges and we're in our 60s,' Heykamp told the Business Journal. 'So when you're in uncertain times, and you make decisions as a leader, it's my and Bryan's responsibility to look at our business and make good decisions on how we can build stability and build the best possible outcome for everybody,' he added. 'And after a lot of work, we came up that this is the right direction to go.' Next Adventure began in a 1,600-square-foot retail space on S.E. Grand Avenue, selling used outdoor gear. Over the years, the company became an iconic Portland business. Its flagship store was particularly known for its 'Bargain Basement', featuring heavily discounted supplies and closeout sales. This year marks the end of an era for the childhood friends, who considered selling the business but ultimately decided that, given the struggles in retail, closing up shop would be the smartest move. Citing 'uncertain times' and 'challenges' as factors in the decision, Heykamp described 'the current business climate and the challenges that we face as an industry, as a nation and as a city', as reported by the Business Journal. 'There's macroeconomics, there's big things, there's little things, there's interest rates, there's all kinds of things that we as business people face,' he told the outlet. As the store officially closes, Next Adventure will hold a retirement store closing sale, with all outdoor gear inventory available for purchase starting May 28. While no exact closing date has been scheduled, the company stated that, 'due to the large volume of merchandise, it is anticipated that the sale will last into the summer', according to the Business Journal. The owners are now encouraging anyone who has made outdoor memories thanks to the store to stop by one last time and grab a deal before their next adventure. 'When we travel for trade shows, we have had people come up to us in the airport and tell us their story of how, because of Next Adventure, for the first time they were able to get out skiing or snowboarding or go hiking,' Heykamp told the Business Journal. 'That's got to be at the top of my list of favorite moments,' he added. 'Ones where we know that we touched people's lives.' 'The fact that we started this business to hang out together and to do fun adventures together, and now we get to do that full time in retirement, it sounds pretty exciting to me.' Next Adventure's closure will be a particularly big blow for the city, as Portland and its stunning Oregon surroundings have long been hugely-popular among outdoorsy types. However, its just the latest business in Portland to close its doors, particularly in the outdoor retail sector. After nearly two decades, outdoor gear co-op REI closed its only Portland location, choosing not to renew the lease on its Pearl District building. The reasoning was simple: rising security costs due to the increasing crime and theft plaguing the city. In a 2023 letter to members, the retailer said it would close the city's downtown store, which has ' had its highest number of break-ins and thefts in two decades '. REI spent $800,000 on additional security in 2022, and said that it did not believe a downtown Portland location would be possible in the near future. Six percent of burglary callouts in downtown Portland in 2022 were to REI, according to KOIN News. In November of that year, a car rammed its storefront during a dramatic robbery. REI installed new safety glass, spent heavily on security guards and even stationed a 24-hour security trailer outside its store in a bid to stop theft - but all to no avail. At the time, the company's move was just the latest in a string of retailers pulling out of the city amid skyrocketing crime. Cracker Barrel, Walmart and Nike all closed stores in the area, citing underperformance and theft. 'In recent years, Portland has been dealing with increased crime in our neighborhood and beyond,' the 2023 letter to members read. Public data showed that since the pandemic, more than 2,600 downtown businesses have filed changes of address with the US Postal Service to leave their downtown ZIP codes. While Portland has seen improvement in overall crime rates, issues continue to persist downtown at 'historic heights' - particularly with car and retail theft, according to Axios. However, a recent survey showed that efforts to revitalize the city are having an impact, with the majority of residents expressing increased optimism about the future, citing improvements in public safety and cleanliness, KOIN News reported. 'Organized crime is having a hard time doing business downtown and that's exactly what we want,' Downtown Portland Clean & Safe Executive Director Mark Wells told the outlet. 'A year ago, you would walk around, it would be very common to see open drug use and open drug dealing,' he added. 'It still exists, for sure, but it's dramatically decreased, and that adds to that sense of safety and security.' Downtown Portland Clean & Safe, a non-profit providing 24-hour dispatch and cleaning services, has left nearly all 300 participating business satisfied with the results. According to the survey, business experiencing theft and shoplifting incidents dropped from 47 percent in 2023 to 30 percent in 2024. The number of businesses reporting the need to repair windows or any other physical damage dropped from 67 percent in 2023 to 47 percent in 2024. Additionally, 57 percent of businesses expressed a renewed comfortability about being located downtown. However, there are still areas in need of improvement. While nearly half of business reported employees quitting due to safety concerns in 2023, the figure reduced to just under one-third last year. 'We saw about a 17 percent decrease in those numbers,' Wells told the outlet. 'But a third, you know, that's still too high.'
Hindustan Times
13-05-2025
- Business
- Hindustan Times
Portland's Next Adventure to close all stores by fall as owners break silence
Next Adventure, a beloved Portland-based outdoor store, will be closing all four of its store locations by the fall, after 28 years in business, KOIN reported. The decision follows the retirement announcement from co-owners and childhood friends Deek Heykamp and Bryan Knudsen. 'We've been in business for 28 years, and we've loved every minute of it and loved Portland,' Deek Heykamp told Willamette Week. 'You come to a point in your business life where you have to make a decision, and we decided to retire.' Also Read: Is Hogs & Heifers Las Vegas closing this summer? Here's what we know Founded in 1997, Next Adventure grew into a major local retail success, employing nearly 200 people and generating $24 million in annual sales at its peak. The closures will affect all four locations: the flagship headquarters in Portland's Central Eastside, a smaller store in Sandy and its paddle centers in Portland and Warren. 'It has been the joy of my life to be part of such a great industry and work with our wonderful customers. While retirement sounds pretty amazing right now, I will truly miss the camaraderie and community that we have built together. Thank you, Portland, for a great run,' said Heykamp. Heykamp also revealed that while there was interest from potential buyers, none of the offers ultimately worked out. However, they are still open to selling parts of the business. 'We are both so passionate about going out and finding deals and then hooking up our customers with the right product to get out on their adventures,' Heykamp said. 'This sale is going to be exactly that. We're going to have crazy deals, and it's going to be fun.' Starting May 28, Next Adventure will launch a storewide closing sale of its entire inventory. The sale is expected to continue into the summer.
