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Gander Mountain gets ready for bankruptcy

On Behalf of | Mar 3, 2017 | Chapter 7 Bankruptcy, Firm News |

Gander Mountain got its start in Wisconsin. Back then, it was just based out of a small town, and it was a catalogue company, allowing people to order what they wanted and have it shipped to them. This was long before the Internet era, in the 60s, and the company thrived.

That now appears to be coming to an end. Over the years, the company grew and expanded into one of the country’s biggest outdoor retailers, with huge brick and mortar stores. It moved from Wisconsin to Minnesota and expanded all over the United States. Now, reports indicate that it’s getting ready to file for bankruptcy.

The problem, according to some, is that the retail industry is now changing so quickly. These huge stores, which are expensive to run and stock, may not be the first choice of many consumers.

Gander Mountain hasn’t filed quite yet, but it is reportedly reviewing its options and getting ready for a filing. If it does go through as expected, it will be very interesting for the future of the industry. After all, two of the biggest competitors are set to merge, with Bass Pro Shops attempting to buy Cabela’s. The purchase price would be $4.5 billion. It’s a huge move and the federal regulators haven’t even signed off on it yet. It remains to be seen how a bankruptcy filing from Gander Mountain would impact that decision, if at all.

It’s wise for those who are considering bankruptcy to take their time and consider all of their options before moving forward, as is being done here. Fully understanding the bankruptcy process and the different types that can be used can help the process go more smoothly.

Source: WV Gazette Mail, “Gander Mountain questions latest twist to outdoor retailer story,” Max Gardland, Feb. 18, 2017