I used to buy water dogs there from Eddy (RIP). Now can't even get frozen suckers......he even used to draw spots on the Red for me in marker on air-filled bags of 'dogs. Now you go buy Patagonia shirts. Go figure.
Gander Mountain prepares to file bankruptcy
- Thread starter GSM
- Start date
Looks like Gander is filing bankruptcy and downsizing. According to this article, the Fargo store will NOT be closing. I can only imagine that it's a front for illegal activity. I don't know how Fargo's store could be considered one of the profitable locations.
http://www.thefirearmblog.com/blog/2017/03/10/breaking-gander-mountain-close-19-stores/
BREAKING: Gander Mountain Files Chapter 11 Bankruptcy & Will CLOSE 32 Stores
Posted 6 hours ago in Breaking News, Guns & Gear, News, Press Releases by Adam Scepaniak with 10 Comments
Many people predicted the fate of Gander Mountain and now more information is surfacing. By filing for Chapter 11 bankruptcy it allows Gander Mountain to clean up their dirty laundry, consolidate as needed, and potentially sell the company without too much disruption for their customers. Gander Mountain‘s timeline is looking loosely like this:
Solicit Bids for their company in late April
Present the Winning Bid in Bankruptcy Court in early May
Close the Sale of their company by May 15th
If it seems like a fast and aggressive timeline; it is. Gander Mountain made a public statement Friday regarding the matter:
Like many retailers, Gander Mountain experienced challenging traffic patterns and shifts in consumer demand resulting from increased direct-to-customer sales by key vendors and accelerated growth of e-commerce. Despite aggressive actions to improve the efficiency of the company’s retail operations and support functions, the underlying financial impact from under-performing stores and unproductive, excess inventory hampered efforts to create a sustainable path forward.
A lot of these statements echo throughout the entire firearms industry. Brick ‘n mortar retailers, both large and small, are continually battling low prices seen on the internet viewed as a race to the bottom. Low prices, regardless of where they are found, are openly welcomed by consumers, but as seen with the case of Sports Authority, Gander Mountain, Radio Shack, and many others it can lead to their potential demise.
Gander Mountain also posted a statement on their Facebook page that can be seen below that was called “A Letter to Our Customers.”.
Gander Mountain
“A Letter to Our Customers”
In all, Gander Mountain will be closing 32 of its 162 stores in the immediate future. That amounts to 19.7% of their stores that span over 26 states. The breakdown of store closures looks like this:
Texas [10] – Houston, Killeen, Laredo, Lubbock, Round Rock, San Antonio, Sugar Land, Texarkana, Waco, West Houston
Alabama [4] – Gadsden, Mobile, Montgomery, Tuscaloosa
Georgia [3] – Augusta, McDonough, Snellville
Illinois [3] – Algonquin, Champaign, Springfield
Minnesota [3] – Mankato, Rogers, Woodbury
Indiana [2] – Greenfield, Merrillville
North Carolina [2] – Raleigh, South Charlotte
Wisconsin [2] – Eau Claire, Germantown
New York [1] – New Hartford
Tennessee [1] – Chattanooga
West Virginia [1] – Charleston
At this time, Gander Mountain also stated that all employees will continue to receive their paychecks as scheduled and will retain any benefits they are owed.
In the coming months you will be seeing a lot of moving and shaking between Gander Mountain, Cabelas, and Bass Pro Shops.
http://www.thefirearmblog.com/blog/2017/03/10/breaking-gander-mountain-close-19-stores/
BREAKING: Gander Mountain Files Chapter 11 Bankruptcy & Will CLOSE 32 Stores
Posted 6 hours ago in Breaking News, Guns & Gear, News, Press Releases by Adam Scepaniak with 10 Comments
Many people predicted the fate of Gander Mountain and now more information is surfacing. By filing for Chapter 11 bankruptcy it allows Gander Mountain to clean up their dirty laundry, consolidate as needed, and potentially sell the company without too much disruption for their customers. Gander Mountain‘s timeline is looking loosely like this:
Solicit Bids for their company in late April
Present the Winning Bid in Bankruptcy Court in early May
Close the Sale of their company by May 15th
If it seems like a fast and aggressive timeline; it is. Gander Mountain made a public statement Friday regarding the matter:
Like many retailers, Gander Mountain experienced challenging traffic patterns and shifts in consumer demand resulting from increased direct-to-customer sales by key vendors and accelerated growth of e-commerce. Despite aggressive actions to improve the efficiency of the company’s retail operations and support functions, the underlying financial impact from under-performing stores and unproductive, excess inventory hampered efforts to create a sustainable path forward.
A lot of these statements echo throughout the entire firearms industry. Brick ‘n mortar retailers, both large and small, are continually battling low prices seen on the internet viewed as a race to the bottom. Low prices, regardless of where they are found, are openly welcomed by consumers, but as seen with the case of Sports Authority, Gander Mountain, Radio Shack, and many others it can lead to their potential demise.
Gander Mountain also posted a statement on their Facebook page that can be seen below that was called “A Letter to Our Customers.”.
Gander Mountain
“A Letter to Our Customers”
In all, Gander Mountain will be closing 32 of its 162 stores in the immediate future. That amounts to 19.7% of their stores that span over 26 states. The breakdown of store closures looks like this:
Texas [10] – Houston, Killeen, Laredo, Lubbock, Round Rock, San Antonio, Sugar Land, Texarkana, Waco, West Houston
Alabama [4] – Gadsden, Mobile, Montgomery, Tuscaloosa
Georgia [3] – Augusta, McDonough, Snellville
Illinois [3] – Algonquin, Champaign, Springfield
Minnesota [3] – Mankato, Rogers, Woodbury
Indiana [2] – Greenfield, Merrillville
North Carolina [2] – Raleigh, South Charlotte
Wisconsin [2] – Eau Claire, Germantown
New York [1] – New Hartford
Tennessee [1] – Chattanooga
West Virginia [1] – Charleston
At this time, Gander Mountain also stated that all employees will continue to receive their paychecks as scheduled and will retain any benefits they are owed.
In the coming months you will be seeing a lot of moving and shaking between Gander Mountain, Cabelas, and Bass Pro Shops.
I bet Johnny Chimpo is involved with the Fargo store.
I think Bed Wetter nailed it. I'm guessing their ammo boxes are filled with heroin. That would be a pretty safe place to hide it considering their prices.
I wonder if the inventory from the 32 closing stores will end up in the remaining GM stores or at CDNN?
My guess is Police Chief Grady's confiscation yard.
[h=1]Camping World group wins Gander Mountain bankruptcy auction[/h]
By JESSICA DINAPOLI , REUTERS
April 29, 2017 - 7:31 AM
The largest U.S. recreational vehicle dealer, Camping World Holdings Inc., and a group of liquidators won a bankruptcy auction for St. Paul-based Gander Mountain Co. on Friday, according to a bankruptcy court filing.
The value of the winning bid for the sporting goods retailer was about $390 million, according to people familiar with the matter who requested anonymity to discuss the details of the auction results.
The Camping World-led group bested a going-concern bid for Gander Mountain from rival Sportsman’s Warehouse Holdings Inc., the sources said.
Camping World, which is run by Marcus Lemonis, a star on CNBC TV’s reality show “The Profit,” plans to operate at least 17 Gander Mountain stores as a going concern, the sources said. An auction for Gander Mountain’s remaining more than 100 leases will be conducted later, the sources said.
The consortium also won all of Gander Mountain’s intellectual property and its Overton’s boating business, the sources said.
This is the second local buy that Lemonis has been involved in this year. In February, he bought the inventory and assets of the Len Druskin stores.
He renamed the downtown City Center store “Shop the Runway.”
Gander Mountain declined to comment, and Lincolnshire, Ill.-based Camping World did not immediately respond to a request for comment.
The auction results will require final approval from a U.S. Bankruptcy Court judge.
Gander Mountain filed for bankruptcy in March with a plan to quickly sell itself after struggling with excess inventory and seeing its approximately 160 stores underperform. It listed assets and liabilities each worth up to $1 billion.
Within the retail sector, sporting goods is going through a period of consolidation and distress. Gander Mountain competitors including Sports Authority Inc. and Eastern Mountain Sports also have filed for bankruptcy.
Financially healthy rivals Bass Pro Shops and Cabela’s Inc. plan to merge this year in a $5 billion deal.
Camping World, which has 120 R.V. super-centers across the U.S. including Rogers and Monticello, Minn., raised $251 million last fall in an initial public offering.
Camping World sees synergies between its business, Gander Mountain and Overton’s, one of the people said.
Lemonis also owns several Bentley’s Pet Stuff locations in the Twin Cities.
By JESSICA DINAPOLI , REUTERS
April 29, 2017 - 7:31 AM
The largest U.S. recreational vehicle dealer, Camping World Holdings Inc., and a group of liquidators won a bankruptcy auction for St. Paul-based Gander Mountain Co. on Friday, according to a bankruptcy court filing.
The value of the winning bid for the sporting goods retailer was about $390 million, according to people familiar with the matter who requested anonymity to discuss the details of the auction results.
The Camping World-led group bested a going-concern bid for Gander Mountain from rival Sportsman’s Warehouse Holdings Inc., the sources said.
Camping World, which is run by Marcus Lemonis, a star on CNBC TV’s reality show “The Profit,” plans to operate at least 17 Gander Mountain stores as a going concern, the sources said. An auction for Gander Mountain’s remaining more than 100 leases will be conducted later, the sources said.
The consortium also won all of Gander Mountain’s intellectual property and its Overton’s boating business, the sources said.
This is the second local buy that Lemonis has been involved in this year. In February, he bought the inventory and assets of the Len Druskin stores.
He renamed the downtown City Center store “Shop the Runway.”
The auction results will require final approval from a U.S. Bankruptcy Court judge.
Gander Mountain filed for bankruptcy in March with a plan to quickly sell itself after struggling with excess inventory and seeing its approximately 160 stores underperform. It listed assets and liabilities each worth up to $1 billion.
Within the retail sector, sporting goods is going through a period of consolidation and distress. Gander Mountain competitors including Sports Authority Inc. and Eastern Mountain Sports also have filed for bankruptcy.
Financially healthy rivals Bass Pro Shops and Cabela’s Inc. plan to merge this year in a $5 billion deal.
Camping World, which has 120 R.V. super-centers across the U.S. including Rogers and Monticello, Minn., raised $251 million last fall in an initial public offering.
Camping World sees synergies between its business, Gander Mountain and Overton’s, one of the people said.
Lemonis also owns several Bentley’s Pet Stuff locations in the Twin Cities.
fargo store is closing.
http://www.valleynewslive.com/content/news/Gander-Mountain-in-Fargo-is-closing--421330793.html
UPDATE: Gander Mountain in Fargo is closing its doors. On Thursday afternoon, several yellow signs were posted outside the building saying they are going out of business.
http://www.valleynewslive.com/content/news/Gander-Mountain-in-Fargo-is-closing--421330793.html
UPDATE: Gander Mountain in Fargo is closing its doors. On Thursday afternoon, several yellow signs were posted outside the building saying they are going out of business.
Saw them hanging the banner a few hours ago...Might have to go take a look at stuff now
FUBU, haha, forgot all about dat!
Sweet...GM going out of business sale. Get to see a bunch of overpriced stuff marked down to the sweet, sweet closeout deals of 5-20 percent off. Woooo... ::wowzers::
At Gander now. Just heard an employee squeal and jump and say, "Fargo is staying open!!"
You sure you weren't at Scheels?
I apologize Bed Wetter. You speak the truth
I apologize Bed Wetter. You speak the truth
Last edited:
Whether you shop there or not, losing business's is never a good thing.
In my little Podunk town the JC Penny's is closing (Going out of business), not a good thing. I shop there rarely, but sure don't want anything closing up, our mall is already a ghost town.
Amazon is great, but I would rather spend the extra 2% at my local shops, just saying.
In my little Podunk town the JC Penny's is closing (Going out of business), not a good thing. I shop there rarely, but sure don't want anything closing up, our mall is already a ghost town.
Amazon is great, but I would rather spend the extra 2% at my local shops, just saying.
It's a whole lot more than 2%, more like 30%. I think the next 6-24 months is going to be a bloodbath for retail. Considering adjusting my tiny investments in anticipation of some market adjustment.
My all time favorite at the shit hole Fargo store was when I tried to get a couple reels spooled with new line the night before I left for Lake of the Woods. I brought the reels in and told the "Pro" behind the counter what I wanted. I shopped around for awhile as I had the store to myself, picked up few lures and went back to get my reels. He handed me one and the line literally started spooling off into a rats nest as he handed it to me. I asked him "what the hell am I supposed to do with that?" His answer "well what are you fishing for?". I said "walleyes". He said " well just drop a jig out really fast and reel it back up tight". I walked over to the aisle with new fishing line, picked out 2 new rolls, walked past him with reels and line in hand, said " I'm not paying for a fucking thing" and walked out. I was not followed. Best deal on line I've ever had!
Rarely shop=going out of business. What, they didn't carry tight leather biker pants?
I still don't know how they're making any money, but I'm glad to see folks in our state not losing their jobs.
UPDATE: CEO of Camping World says Fargo Gander Mountain will remain open
UPDATE: According to the CEO of Camping World Holdings, the Fargo Gander Mountain will remain open.
Camping World Holdings, which operates a network of stores catering to recreational vehicle owners, said Monday that it has won a bankruptcy auction of Gander Mountain’s assets after the company filed for bankruptcy in March.
On Thursday afternoon, several yellow signs were posted outside the Fargo location saying they are going out of business.
But Thursday evening, on a post on Camping World CEO Marcus Lemonis' verified Twitter account, he stated that the Fargo store would be one of a number of locations that will remain open.
We tweeted out to Lemonis asking if the Fargo store would remain open under the same name. He responded by "Liking" our tweet.
Stick with Valley News Live for further updates.
1st UPDATE: Gander Mountain in Fargo is closing its doors. On Thursday afternoon, several yellow signs were posted outside the building saying they are going out of business.
We are working to confirm when exactly the store will be closing so stick with Valley News Live for further updates.
ORIGINAL: A sporting goods chain that has already filed for bankruptcy reorganization may be closing more stores than initially expected.
Many of Gander Mountain’s 160 stores appear destined for closing, and the guns, camping gear and other inventory in the stores will be liquidated, under a plan filed in bankruptcy court.
When the chain, based in St. Paul, Minn., filed for bankruptcy in March, it said it would shut 32 stores in 11 states over the next several weeks. The stores employed 1,280 full time and part-time workers. Now those numbers could go higher.
Camping World Holdings, which operates a network of stores catering to recreational vehicle owners, said Monday that it has won a bankruptcy auction of Gander Mountain’s assets.
The deal requires Camping World to assume the leases on just 17 Gander Mountain stores, and gives it the right to assign others.
The Wall Street Journal quoted Camping World CEO Marcus Lemonis as saying that at least half of the existing Gander Mountain stores won’t survive.
Based in St. Paul, Minn., Gander Mountain started in Kenosha County in 1960 as a catalog retailer. The firm went through bankruptcy in the 1980s and in 1996, and filed again for in March, seeking protection from creditors while it reorganized its financial affairs.
The company has had fierce competition from rivals such as Bass Pro Shops and Cabela’s.
In an announcement Monday, Camping World said it had bid nearly $38 million for the assets of Gander Mountain and its boating business, Overton’s.
A group of liquidators, meanwhile, won the rights to sell off the inventory in Gander Mountain’s stores.
The winning auction bids are subject to approval by the bankruptcy court in Minnesota, which will hold a hearing on the sale on Wednesday.
In his statement, Lemonis said the deal would allow Camping World to “refine the inventory selection” at the Gander Mountain locations and “select only those stores which are profitable or we believe have a clear path to profitability.”
Camping World will be able to offer its products and services at the Gander Mountain locations. Besides its retail stores, Camping World operates the Good Sam Club, which provides breakdown insurance, roadside assistance and other services to RV owners.
At this time a list of possible store closings is not available.
UPDATE: CEO of Camping World says Fargo Gander Mountain will remain open
UPDATE: According to the CEO of Camping World Holdings, the Fargo Gander Mountain will remain open.
Camping World Holdings, which operates a network of stores catering to recreational vehicle owners, said Monday that it has won a bankruptcy auction of Gander Mountain’s assets after the company filed for bankruptcy in March.
On Thursday afternoon, several yellow signs were posted outside the Fargo location saying they are going out of business.
But Thursday evening, on a post on Camping World CEO Marcus Lemonis' verified Twitter account, he stated that the Fargo store would be one of a number of locations that will remain open.
We tweeted out to Lemonis asking if the Fargo store would remain open under the same name. He responded by "Liking" our tweet.
Stick with Valley News Live for further updates.
1st UPDATE: Gander Mountain in Fargo is closing its doors. On Thursday afternoon, several yellow signs were posted outside the building saying they are going out of business.
We are working to confirm when exactly the store will be closing so stick with Valley News Live for further updates.
ORIGINAL: A sporting goods chain that has already filed for bankruptcy reorganization may be closing more stores than initially expected.
Many of Gander Mountain’s 160 stores appear destined for closing, and the guns, camping gear and other inventory in the stores will be liquidated, under a plan filed in bankruptcy court.
When the chain, based in St. Paul, Minn., filed for bankruptcy in March, it said it would shut 32 stores in 11 states over the next several weeks. The stores employed 1,280 full time and part-time workers. Now those numbers could go higher.
Camping World Holdings, which operates a network of stores catering to recreational vehicle owners, said Monday that it has won a bankruptcy auction of Gander Mountain’s assets.
The deal requires Camping World to assume the leases on just 17 Gander Mountain stores, and gives it the right to assign others.
The Wall Street Journal quoted Camping World CEO Marcus Lemonis as saying that at least half of the existing Gander Mountain stores won’t survive.
Based in St. Paul, Minn., Gander Mountain started in Kenosha County in 1960 as a catalog retailer. The firm went through bankruptcy in the 1980s and in 1996, and filed again for in March, seeking protection from creditors while it reorganized its financial affairs.
The company has had fierce competition from rivals such as Bass Pro Shops and Cabela’s.
In an announcement Monday, Camping World said it had bid nearly $38 million for the assets of Gander Mountain and its boating business, Overton’s.
A group of liquidators, meanwhile, won the rights to sell off the inventory in Gander Mountain’s stores.
The winning auction bids are subject to approval by the bankruptcy court in Minnesota, which will hold a hearing on the sale on Wednesday.
In his statement, Lemonis said the deal would allow Camping World to “refine the inventory selection” at the Gander Mountain locations and “select only those stores which are profitable or we believe have a clear path to profitability.”
Camping World will be able to offer its products and services at the Gander Mountain locations. Besides its retail stores, Camping World operates the Good Sam Club, which provides breakdown insurance, roadside assistance and other services to RV owners.
At this time a list of possible store closings is not available.
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