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Cabela’s for sale?

Cabelas-001OMAHA, Neb. (AP) — Cabela’s, the outdoor sporting goods chain known for its elaborate in-store wildlife displays, may be seeking a buyer.

The retailer has been under pressure since late October when the investment firm Elliott Management started pushing for money-generating maneuvers from Cabela’s.

They’re considering the possible sale of its credit card unit or the entire company. Elliott owns 6 percent of Cabela’s shares and holds options to buy another 5 percent.

The company has been attempting to cut spending due to weak sales and in September it laid off 70 people, eliminating about 4 percent of its corporate workforce.

Cabela’s has its headquarters in Sidney, Nebraska a town with a population of less than 7,000. Cabela’s accounts for almost a third of that number in jobs.

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