ST. PAUL, Minn. - Gander Mountain has announced it is going out of business, but its owner says not all stores will close.
Owner Marcus Lemonis said at least 70 Gander Mountain locations will remain open. In a tweet on Thursday, he said the Madison store and a few others in Wisconsin will remain open.
The outdoor retailer with 126 locations nationwide filed for Chapter 11 bankruptcy in March. Its website says the stores are holding a "going out of business" total liquidation sale and will be accepting gift cards until May 18.
Lemonis told the Indy Star a liquidator bought the inventory, but new merchandise will be coming for the locations that remain open. Earlier this month, Camping World Holdings acquired Gander Mountain, as well as watersports company Overtons.
In a March news release, the company said it has struggled due to growing online shopping and direct-to-customer sales from vendors.
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