REI Co-op's Experiences division, a beloved outdoor tourism service for 40 years, will close due to financial considerations, impacting 428 employees and many customers.
In a statement, REI President and CEO Eric Artz emphasized, "Our goal must always be the long-term financial health of the co-op, and while today's decision is a difficult one, it is necessary."
Customers with trips booked will receive refunds, while REI also commits to addressing any non-refundable expenses, as they wind down this iconic part of the business.
Artz noted, "I know that this is difficult news. The next few weeks will continue to be tough as we unwind an iconic part of our business and say goodbye to colleagues."
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