Gander Mountain, an outdoors retail company, is filing for Chapter 11 bankruptcy protection.
Gander Mountain says that it plans to continue operations during its bankruptcy restructuring. However, it will be closing 32 stores that were not turning in sales that met the company’s expectations. The stores will start shutting down over the next several weeks.
Here is a list of the 32 stores that will be closing as a result of the Gander Mountain bankruptcy.
- Gadsden, Ala.
- Mobile, Ala.
- Montgomery, Ala.
- Tuscaloosa, Ala.
- Augusta, Ga.
- McDonough, Ga.
- Snellville, Ga.
- Champaign, Ill.
- Algonquin, Ill.
- Springfield, Ill.
- Merrillville, Ind.
- Greenfield, Ind.
- Rogers, Minn.
- Mankato, Minn.
- Woodbury, Minn.
- New Hartford, N.Y.
- Raleigh, N.C.
- South Charlotte, N.C.
- Chattanooga, Tenn.
- Houston, Texas
- Killeen, Texas
- Laredo, Texas
- Lubbock, Texas
- Round Rock, Texas
- San Antonio, Texas
- Sugar Land, Texas
- Texarkana, Texas
- Waco, Texas
- West Houston, Texas
- Charleston, W.V.
- Eau Claire, Wis.
- Germantown, Wis.
Gander Mountain’s decision to file for bankruptcy came after a strategic review of the company. The review revealed that it needs a lower cost operating model with a tighter focus to achieve more growth. It also found that it doesn’t have the time to accomplish this type of restructure on its own.
Gander Mountain is looking to sell itself and it already has some unnamed parties that are interested in acquiring it. It is planning to solicit bids prior to its actuation April of this year. The retailer wants to submit a winning bid to the bankruptcy court for approval in early May. It is anticipating the sale will close by May 15 if all of this is accomplished.
