Gander Mountain won’t actually be closing all of its stores.
Camping World Holdings Inc (NYSE:CWH) is planning to purchase assets from Gander Mountain in its bankruptcy. It has announced that it is planning to keep at least 70 of the outdoor retail stores open once the acquisition of these assets is complete.
Camping World Holdings Inc has already made a successful bid for the Gander Mountain assets during an auction that took place on April 27, 2017 and April 28, 2017. The company also got approval from the United States Bankruptcy Court for the District of Minnesota for the transaction on May 4, 2017.
News that not all of Gander Mountain’s retail locations will be closing comes after a conflicting announcement. This announcement cam from the company as it started its liquidation sales. It said it would be closing all 126 of its locations.
Marcus Lemonis, the Chairman and CEO of Camping World Holdings Inc, has been posting to Twitter Inc (NYSE:TWTR) about the news. He says that the Gander Mountain website is currently in control of liquidators, but that his company will be taking it over on May 18.
Lemonis has also been posting a list of the Gander Mountain locations that his company plans to continue operating after the acquisition. This list is being updated by the Camping World Holdings Inc CEO regularly. He has also been answering question on TWTR about the future of the company and what employees can expect to change.
You can follow this link to learn more about Camping World Holdings Inc’s plans to keep some Gander Mountain locations open.