Gander Mountain files for bankruptcy
Company hopes to sell its business by mid-May
ST. PAUL, Minn. — Outdoor retailer Gander Mountain announced Friday that it has filed for Chapter 11 bankruptcy reorganization.
In a news release, the company said it has struggled due to growing online shopping and direct-to-customer sales from vendors.
The company plans to solicit bids for its sale prior to a late April auction, the release said. Under that timeline, the company could be sold by mid-May.
Thirty-two underperforming stores will be closed, the release said. WCCO-TV reports two Wisconsin stores, one in Eau Claire and one in Germantown, are among the 32 to be closed.
COPYRIGHT 2020 BY CHANNEL 3000. ALL RIGHTS RESERVED. THIS MATERIAL MAY NOT BE PUBLISHED, BROADCAST, REWRITTEN OR REDISTRIBUTED.