Gander Mountain files for bankruptcy
Gander Mountain filed for bankruptcy Friday and said it expects to attract a buyer as the company lowers its operating costs as part of its restructuring.
The company expects to close 10 of its 22 stores in Texas. In all the St. Paul, Minn.-based chain of 162 stores in 26 states is closing 32 stores over the next several weeks.
It expects to find a buyer soon and has secured financing to get it through a quick sale process it outlined.
Gander Mountain said it is in active discussions with a number of parties interested in a going-concern sale and expects to solicit bids prior to an auction to be held in late April. The company expects to submit the winning bid to the bankruptcy court in Minnesota for approval in early May and expects to complete the sale by May 15.
Read more: http://www.dallasnews.com/business/retail/2017/03/10/gander-mountain-files-bankruptcy-closing-10-stores-texas
