Gander Mountain files for bankruptcy

Company hopes to sell its business by mid-May
Gander Mountain files for bankruptcy
Gander Mountain via Facebook

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.