Gander Mountain Bankruptcy - Update, 13 February 2017

More store will be closed by Gander Mountain if what the Milwaukee Wisconsin Journal Sentinel is reporting is about to turn true. In short MWJS is reporting that Gander Mountain will be filing for bankruptcy protection very soon and that as a result jobs may be lost.

Here is the summary of what Gander Mountain may do as it relates to bankruptcy per MWJS reporting:

Gander Mountain works on bankruptcy filing, as early as this month, MWJS is quoting Reuters on this
Reuters claims they have insider info
GM is working Lighthouse Management Group Inc. and law firm Fredrikson & Byron PA on the filing, given what the companies do, it’s likely they are working on the BK
All parties involved declined to comment, the sources want to stay anonymous
The outdoor sporting goods segment is in turmoil, Bass Pro Shops bought Cabela's, Sports Authority went bankrupt – it’s tough.
Saint Paul, the main office of Gander Mountain will be hit hard
Reminder: GM was taken private in 2010 by Gratco

That's it for now - let's see if Gander Mountain is able to avoid bankruptcy - I think it's all over for us but we'll see.

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Here is the list with 32 stores slated for closure:

Alabama Closures (4 - four) – Gadsden, Mobile, Montgomery, Tuscaloosa
Georgia Closures (3 - three) – Augusta, McDonough, Snellville
Illinois Closures (3) – Champaign, Algonquin, Springfield
Indiana Closures (2 - two) – Merrillville, Greenfield
Minnesota Closures (3 - three) – Rogers, Mankato, Woodbury
New York Closures (1 - one) – New Hartford
North Carolina Closures (2 - two) – Raleigh, South Charlotte
Tennessee Closures (1 - one) – Chattanooga
Texas Closures (10 - ten) – Houston, K–leen, Laredo, Lubbock, Round Rock, San Antonio, Sugar Land, Texarkana, Waco, West Houston
West Virginia Closures (1 - one) – Charleston
Wisconsin Closures (2 - two) – Eau Claire, Germantown

Can Gander Mountain avoid bankruptcy?

Gander stopped paying rent on for the building I own. I hear that the vendors have cut them off as well as Gander isn't paying them. Maybe they're planning to close up and liquidate?

BK is pretty much a done deal at this point - I hope all employees get severance and they bounce back quickly after stores close.

I do not think it's a rumor any more - this is pretty much a done deal - they will file for sure and the only question is when is that going to happen.

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Gander Mountain Bankruptcy - Update, 13 February 2017

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