In reply to Duncan I:
I agree. In my experience their service was good but there are loads of web-based outdoor retailers offering good to excellent service (and a few offering very shoddy service), a wider product range and more competitive pricing.
It's a shame for the PF guys but I'm not at all surprised by this news. PF never really seemed to know what it was about, who it's audience was and where it should focus - info, retail, news, holidays, events, sponsorship, own-brand clothing, training, travel guides, adventure racing, forums etc. etc. I think it's suffered because of it. It's never really excelled at anything and it doesn't have the same web community that UKC has, so little/no advertising revenue.
The articles were generally good though. Perhaps this is something that UKC can capitalise on (not that UKC articles are bad mind you). I also really liked their e-mail sales promotions, although I now understand that offering 30% off your entire product range isn't perhaps the most sustainable strategy
Hopefully they can manage to salvage something out of this.