Gander Mountain is closing down a bunch of stores


(By: Josh King)

The sporting goods chain Gander Mountain is about to close a bunch of stores. USA Today says that it looks like 160 stores could be closing and it's inventory liquidated under a plan filed in bankruptcy court.

The company had already filed for bankruptcy in March but that only 32 stores would be closing, not 160. Now, Camping World has won a bankruptcy auction of Gander Mountain assets. Camping World CEO Marcus Lemonis says that at least half of Gander Mountain stores won't survive.

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The company has seen serious competition for competitors like Bass pro Shop and Cabela's. Camping World has bid nearly $38 million dollars for Gander Mountain's assets and it's boating business.

A hearing will be held on Wednesday where winning auction bids will be subject to approval by the bankruptcy court in Minnesota.

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