Vann's Will File for Bankruptcy

Posted Fri Aug 3, 2012 at 09:00 AM PDT by Dick Ward

Vann's retail locations are pulling in a profit but other owned stores and online sales aren't quite up to snuff.

Vann's is a significant name on the electronics market, especially for those living in Montana, where the chain got its start. Vann's stores, which have a product selection similar to that of Best Buy, have been profitable but The ON Store and BigSkyCountry.com have not – both are retailers owned by Vann's. The company didn't speak explicitly about the Vann's website, but it can be implied from statements that it's not a major source of income.

CEO Jerry McConnell says that the Vann's website will be a bigger focus for the company going forward. "My son shops online," he says. "I don't think he's ever been in a store. So, we need a different mindset for our Vanns.com business."

Source: ABC Montana

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Tags: Vann's, Bankruptcy, Industry Trends (all tags)