Gander Mountain Announces Closures, Bankruptcy Filing
Another outdoor sports retailer has filed for chapter 11 bankruptcy protection.
On Friday Gander Mountain announced the voluntary petition for relief under Chapter 11.
Gander Mountain says it filed for the relief as a result of an in-depth review of the company’s options to position themselves for long-term success.
Gander Mountain says, like so many other retailers, they too have experienced the changes in consumer demand and the growth of online retailers.
The company generally expects to conduct normal business operations during any restructuring.
Employee pay will continue to arrive on time and in full, employee benefits will remain in place, retirement accounts are intact and protected.
But as part of the corporate restructuring Gander Mountain says they will close 32 stores over the next several weeks.