Milwaukee Business Journal: Gander Mountain files for bankruptcy, Germantown store to close

Mar 12, 2017, 01:03
Milwaukee Business Journal: Gander Mountain files for bankruptcy, Germantown store to close

A press release from Gander Mountain stated it will solicit bids for a going-concern sale and expects to hold an auction for the company in late April.

The Gander Mountain store at Southridge Center is among 32 nationwide that will be closing in the next few weeks, the company announced.

St. Paul, Minnesota-based Gander Mountain has announced it will closed its Germantown and Eau Claire locations.

A national outdoor gear retailer says it will close its Eau Claire location and more than 30 others across the country.

The company said in February plans were in motion for filing.

Gander Mountain has made a decision to sell the company while continuing operations. Five of Bass Pro Shops' six Texas stores are located near Houston, Dallas or San Antonio, with the other one nested in the state's southern tip in Harlingen. The company then issued a statement avoiding the question of bankruptcy. It posed a letter on its Facebook page Friday afternoon, saying that Gander Mountain employees would do everything they can to make the process "invisible and inconsequential" to customers.

A business that files for Chapter 11 bankruptcy usually comes up with a plan to keep its operations alive as it pays its debts over a period of time.

"The company generally expects to conduct normal business operations".

Gander Mountain was founded in 1960 in Wilmot, an unincorporated community in Kenosha County, as a catalog retailer.