Gander Mountain filed Chapter 11 bankruptcy on 3/10/2017

[johndoe3]

http://www.stltoday.com/business/local/ ... 7f92a.html

Hunting and fishing chain Gander Mountain Co. is preparing to file for bankruptcy as early as this month, after an aggressive effort to expand its store base failed to pull in new customers, according to people familiar with the matter.

Gander Mountain is working with financial advisory firm Lighthouse Management Group Inc. and law firm Fredrikson & Byron PA as it gets ready to file for bankruptcy, the sources said...

...Gander Mountain faced financial trouble after an aggressive expansion across the United States for a total of about 160 stores, with nearly 60 new outposts opened or announced since 2012. The expansion included three stores in the St. Louis area, including its first Missouri store, opened in Fenton in 2014.

The company has a $30 million loan, and revolving credit lines for $25 million and $500 million, according to Thomson Reuters data. It is not clear how much money in the credit lines Gander Mountain has yet to draw down on.

Gander Mountain would be the fifth outdoor retailer to file for bankruptcy in the last 12 months, following sports retailers such as Sports Chalet and Sports Authority Inc., which both sought court protection from their creditors.

Hopefully, Gander Mountain can find a "white knight" to bail them out and take over the business.

[TROOPER]

I'm in Augusta, GA, and they just opened one here a year or two ago. They did this just after a Cabela's opened, and there's already an Academy here. Point being, Gander Mountain is far and away outclassed and out-priced by either Cabela's or Academy. There's no saving one basic fact of that store: it costs too much to shop there.

I continue to be amazed when places like a Gander Mountain think that customer loyalty will overcome significantly higher prices. If it was different merchandise, then maybe. But when the exact same product is 7 minutes away and 20% less expensive, loyalty to the store is over-ridden by loyalty to a dollar. Gander's gun prices were MSRP.

[fishman]

The gander mountain near my house has used guns for sale that are more expensive than identical brand new ones on gunbroker.com

[doubloon]

The gander mountain near my house has used guns for sale that are more expensive than identical brand new ones on gunbroker.com

This.

Every once in a while I go there when there's no place else to go or something is on sale. I don't think I've ever been in the place when customers weren't outnumbered by employees.

Maybe they'll finally have some decent prices when they liquidate.

[bakerjw]

Got my first SKS from them. It was decently priced at the time and before I had my C&R. They also had cheap ammunition. That was well before Barry came along.
As for Cabela's, Bass Pro Shops has bought them. We have one of each a few miles apart here. The market is tightening in outdoor stores.

No I go to academy at least once every few weeks. Now that Winter is almost over, they discount their Winter gear.

[jreinke]

Gander Mountain used to have a warm place in my heart. It WAS a Wisconsin company and the flagship store in Wilmot was only about 30 miles away. I'd go there every time I was home on leave. Then they started to grow and lost their direction, i.e. trying to compete with Cabela's and Bass Pro Shop by building brick and mortar stores rather than primarily catalog sales. That's when they went into bankruptcy the first time and got sold to some conglomerate. Now they just suck! The previous comment about them pricing used guns higher than new, is not unique to Gander Mountain, both the Cabela's in the area, Madison and Milwaukee (especially Milwaukee) do the same thing.

[EastCoastPoly]

Walking into Gander Mountain is always a mistake, unless you go there to people watch. Its a wonderful place to laugh at everyone that buys their overpriced firearms and ammunition. Not to mention it brings in the city slickers that love to try and act like they know something about hunting, fishing, camping, and shooting. The kicker, is that nearly all the ammo can be bought at the local walmart 3 minutes up the road.

[hardcase]

I received a 20% off storewide coupon for Gander Mtn effective 2/19 to 2/25.

It was to me or current resident

In store or on line. No firearms, ammo, or marine electronics.

Online promo code FRIENDS20

[Kramer]

Not the first time that has happened. They did this back in the mid 1990s.

[johndoe3]

http://www.bizjournals.com/dallas/news/ ... uptcy.html

On Friday (3/10/2017), Gander Mountain announced it had filed for Chapter 11 bankruptcy; and also announced that it was immediately closing the 32 most underperforming stores of 160 nationwide.

They also announced that the remaining 128 stores will remain open for business as the company seeks to sell itself. A number of parties have expressed interest in buying Gander Mountain, and an auction of the company will be held in April 2017.

[johndoe3]

http://www.guns.com/2017/03/14/list-whi ... e-closing/

32 stores being closed in (leaked list not officially released by Gander Mountain):

Alabama – Gadsden, Mobile, Montgomery, Tuscaloosa
Georgia – Augusta, McDonough, Snellville
Illinois – Champaign, Algonquin, Springfield
Indiana – Merrillville, Greenfield
Minnesota – Rogers, Mankato, Woodbury
New York – New Hartford
North Carolina – Raleigh, South Charlotte
Tennessee – Chattanooga
Texas – Houston, Killeen, Laredo, Lubbock, Round Rock, San Antonio, Sugar Land, Texarkana, Waco, West Houston
West Virginia – Charleston
Wisconsin – Eau Claire, Germantown