chain, using the existing MEC name and branding. Following the completion of the sale, the co-operative itself will continue to formally exist for the time being, but its retail activities will cease. The incoming CEO Eric Claus stated that it was "highly unlikely" that members would receive their $5 shares back. Staff cuts and closures of at least five locations are planned. The fate of a proposed location in Saskatoon was left unclear. The decision to sell its assets to Kingswood was met with objection from some co-op members. The board of directors had not consulted MEC members about the sale nor even informed them about it. The board had also not consulted members on a possible rights issue deal, to make an internal offer to refloat the co-op. A petition was started on Change.org "calling on the MEC Board of Directors to cancel the deal, and hold immediate open, fair and democratic board elections". It had accumulated 73,600 signatures in its first four days. By September 26, 2020 the petition had exceeded 136,000 signatures. In an official announcement on September 18, 2020 Judi Richardson, Chair of the MEC Board of Directors, addressed members, writing, "We recognize this has been an unsettling week for members. The sale of MEC's business, and the decision to move the business away from the co-operative model was, after all, a very difficult decision – but it was the right one. Facing a stark choice, we chose to preserve employment opportunities, a larger store presence, and a commitment to MEC's ethos rather than fold up the MEC tent for good." In explaining why there was no communication with members on the sale she indicated that the board had prioritized "preserving jobs and saving MEC from bankruptcy or liquidation. In short, we prioritized MEC's survival." She indicated that while under CCAA protection, "a member vote (or in the case of corporations, a shareholder vote) is not required" to sell the assets of the organization. MEC founding board member Sara Golling said in a September 18, 2020 interview that she felt "grief and betrayal" at the sale of the co-op's assets to a private US investment firm. She stated, "MEC was a co-op, and one of the co-operative principles is democratic member control. The members were never consulted about this. We were never warned just how bad conditions were for MEC. We knew it was bad but