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.
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.