Gander Mountain, subsidiaries file for Chapter 11 reorganization

Posted March 12, 2017

Sporting-goods store Gander Mountain filed for bankruptcy and will be closing 32 of its underperforming stores, including the one in Champaign.

A Wisconsin station in our corporate family, WEAU, is reporting the Augusta location is one of the 32 stores that will be closed.

The privately owned St. Paul-based company filed for Chapter 11 bankruptcy on Friday. Reuters reported almost a month ago that Gander Mountain was close to filing Chapter 11 bankruptcy.

According to the bankruptcy case, there are 162 Gander Mountain stores in the U.S.

The company said, like other retailers, it has seen patterns shift from direct-to-customer sales to e-commerce.

Gander Mountain operates 160 stores in 26 states selling gear for hunting, fishing, camping, shooting and other outdoor activities.

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They say the underlying financial impact from under-performing stores and unproductive, excess inventory hurt efforts to create a sustainable path forward.

Gander said it wants to be sold by May 15. A press release from Gander Mountain stated it will solicit bids for a going-concern sale and expects to hold an auction for the company in late April.

"The company generally expects to conduct normal business operations".

All stores will continue to honor gift cards, Myers said.

Gander Mountain was founded in 1960 in Wilmot, an unincorporated community in Kenosha County, as a catalog retailer.

Johnstown's Gander Mountain store is located at 600 Galleria Drive, in The Galleria shopping mall.