Gander Mountain, one of the largest outdoor outfitters, will be closing 32 stores and has filed for Chapter 11 bankruptcy. They will attempt to sell their stores and subsidiaries, including Overton’s, an online boating retailer. Gander Mountain is just of the many mortar and brick stores that have found themselves struggling with sluggish sales and attempting to compete with online shopping. With these store closing, at least 1,280 full time and part-time workers will be impacted. They will operate their stores as business as usual for the time being with their employees being paid while they restructure.
Gander Mountain wants to have the 32 stores sold by May 15, 2017. They will be looking for bids for an auction on their properties in late April.
The stores that will be closing are:
- Alabama (4) – Gadsden, Mobile, Montgomery, Tuscaloosa
- Georgia (3) – Augusta, McDonough, Snellville
- Illinois (3) – Champaign, Algonquin, Springfield
- Indiana (2) – Merrillville, Greenfield
- Minnesota (3) – Rogers, Mankato, Woodbury
- New York (1) – New Hartford
- North Carolina (2) – Raleigh, South Charlotte
- Tennessee (1) – Chattanooga
- Texas (10) – Houston, Killeen, Laredo, Lubbock, Round Rock, San Antonio, Sugar Land, Texarkana, Waco, West Houston
- West Virginia (1) – Charleston
- Wisconsin (2) – Eau Claire, Germantown
This is sad news, indeed. With decreased sales and e-commerce adding to the mix,many stores have to readjust their way of doing business.
Source: USA Today