Gander Mountain is on he ropes,

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03-16-2017, 03:43 PM
jollymon

Gander Mountain is on he ropes,
Sadly another business failing, We should be able to save a bit at closing sales, But it just means less companies to compete for your money, Competition keeps prices low

ST. PAUL, Minn.— Big box outdoor retailer Gander Mountain announced a Chapter 11 bankruptcy filing on Friday, March 10. The Minnesota-based retailer plans to close 32 of its 162 stores in the coming weeks and seek a buyer.
The following is an except from the company’s official statement:

“Today’s action is the result of an in-depth review of the company’s strategic options undertaken in recent months to preserve the value of the company and position it for long-term success. Like many retailers, Gander Mountain experienced challenging traffic patterns and shifts in consumer demand resulting from increased direct-to-customer sales by key vendors and accelerated growth of e-commerce. Despite aggressive actions to improve the efficiency of the company’s retail operations and support functions, the underlying financial impact from underperforming stores and unproductive, excess inventory hampered efforts to create a sustainable path forward.
“The company’s strategic review yielded the following conclusions: A narrowly focused and lower cost operating model is necessary to position the company for profitable growth; The company does not have the financial capacity or time to reset its operations to fully implement the new model and, as a result; The best available path forward is to sell the company on a going-concern basis.”
According to the Minneapolis Star Tribune, company officials expect to hold an auction in mid-April with an anticipated closing date of May 15.
Gander Mountain previously filed for bankruptcy protection in 1996 when it operated 17 stores. Until 2008, the company was unable to publish a catalog or create a website thanks to a $35 million licensing deal with Cabela’s, who purchased Gander’s catalog business during that year. Friday’s filing listed $500 million in liabilities, with one unpaid vendor—California’s Vista Outdoor Sales, the parent company of Federal Ammunition—owed $15 million. Other unpaid vendors include Pure Fishing, Normark, Carhartt, Smith & Wesson and Remington.
Records indicate that Gander Mountain owes Pure Fishing $4.5 million and Normark nearly $1 million. Strike King is also listed as an unpaid vendor, though the company has declined to confirm a dollar figure.
According to TwinCities.com, the following stores are slated for closing:
- 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
Overton’s, Inc., a North Carolina-based online retailer of recreational boating equipment owned by Gander Mountain since 2007 is also included in the Chapter 11 filing.
03-16-2017, 04:12 PM
CarlF

Classic example of over-building/over-saturating the market place.

In Mobile, right we now have Field & Stream, Academy (2), Gander Mountain, Dicks, Bass Pro Shops plus Walmarts (4), all within a 30 minute drive from my house.

Throw in internet sales and the market simply is not going to support that many big-box outdoors stores.
03-16-2017, 06:19 PM
chillinfish

I saw a screen shot of a letter from the CEO of Gander Mountain that said they had filed for Chapter 11 protection. He said they were not closing. I don't shop there because a gun on sale is still 10 percent higher than other places.
03-16-2017, 06:50 PM
coach

There's one in Huntsville but it's WAY on the North side of town.
03-16-2017, 07:43 PM
stik

I have found them to be no more pricey than any other store. and they will price match. there will be no clearance sales. the inventory of the closing stores will be distributed among those that are not closing.
03-16-2017, 08:11 PM
SNAKE

Just heard yesterday the Montgomery location is closing its doors soon too.
03-16-2017, 09:31 PM
will46r

Quote:

Originally Posted by SNAKE

Just heard yesterday the Montgomery location is closing its doors soon too.

Heyyyy Snake, I live in Deatsville. Maybe we can carpool down there from time to time for a day trip. I've got one buddy raring to go back.

Yeah, every time I've been in the Montgomery GM there's like 4 customers, most of the guys know very little about the products and are apathetic at best. I do a lot of shopping at the Prattvegas BPS because they have a military discount, fly tying classes and most of the guys in the fishing department seem to live, eat and breathe fishing. I fly fish with one of their guys and he gives new meaning to being addicted to fishing. Lol
03-16-2017, 11:24 PM
midwestexile

Dicks is now owned by F&S I think and Bass pro is acquiring Cabela's. Another regional building big stores here is Scheel's. Shakeouts are not done yet.
03-17-2017, 12:03 AM
secureone

Brick and mortar can only survive with very limited items. Online sales have and will continue to cause these stores to crumble. Welcome to the new world. And as a thought about more companies equals competition , well the remaining stores cant raise their prices when the interweb isnt gonna
03-17-2017, 06:23 AM
flyguy

A fellow in Iowa, was fined $8,665.45, loss of shotgun & loss of hunting privileges for 1 year, for poaching a buck that greened scored over 200. The guy shot the deer during daylight hours & during the first slug season. But, he was trespassing, shooting from the road, & shooting within 200' of buildings. It was a tip call.
03-17-2017, 09:04 AM
SNAKE

Quote:

Originally Posted by will46r

Heyyyy Snake, I live in Deatsville. Maybe we can carpool down there from time to time for a day trip. I've got one buddy raring to go back.

Yeah, every time I've been in the Montgomery GM there's like 4 customers, most of the guys know very little about the products and are apathetic at best. I do a lot of shopping at the Prattvegas BPS because they have a military discount, fly tying classes and most of the guys in the fishing department seem to live, eat and breathe fishing. I fly fish with one of their guys and he gives new meaning to being addicted to fishing. Lol

Will, I live in Eclectic now. It's a good drive for me to go anywhere in town haha. Gander mountain was too expensive for me. I'll stick to BPS- in store or online, and academy
03-17-2017, 09:14 AM
will46r

Quote:

Originally Posted by SNAKE

Will, I live in Eclectic now. It's a good drive for me to go anywhere in town haha. Gander mountain was too expensive for me. I'll stick to BPS- in store or online, and academy

I understand. I was raised in Montgomery moved out of town 20 years ago and only head back to Montgomery for welding class, Costco, and to see my mom.