Mayor: Sidney will get through Cabela's uncertainty

Governor called to pledge support

 

While rumors and media reports circulate about the future of Cabela's, Sidney's mayor said residents must be patient.

"As everybody well knows, there's an active investor that's taken an interest in [Cabela's]," Sidney Mayor Mark Nienheuser remarked at a city council meeting on Tuesday. "There's nothing we can do at this point trying to speculate on hypotheticals at this time. We just have to wait and be patient and allow Cabela's to do what they need to do to run their business."

Last month, an investment firm said it had purchased a significant stake in Cabela's – Sidney's largest employer. In documents filed with the Securities and Exchange Commission, Elliott Management Corp. said it wants the outdoor retailer to consider strategic changes.

And last week, Reuters, a news service, reported Bass Pro Shops may be exploring a possible bid to purchase Cabela's.

A Cabela's spokesman did not return a phone call Wednesday seeking comment.

Nienheuser said Sidney and the retailer have always had a great relationship.

"It's been a two-way street, and I'm sure it will be for the future," he said.

The mayor also said Nebraska Gov. Pete Ricketts has called to pledge support.

"I did receive a call from the governor tonight, just earlier this evening," Nienhueser said Tuesday night. "And he reassured myself that the state is very much attuned to working with Cabela's when they know what needs to be done."

However, what that support will entail is unknown as numerous questions remain, the mayor added.

"He just reassured that the state is there as a partner to help Cabela's and help the City of Sidney when the time is needed," Nienhueser explained.

Until then, the city must wait, the mayor said.

"I know it's not easy to wait, but we'll get there," he said. "We'll get through it. And just hope for the best."

The report contains material from the Associated Press.


 

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