ST. LOUIS (KMOX) – Outdoors and sporting-goods chain Gander Mountain could be preparing to file for bankruptcy as early as this month.
The bankruptcy rumor was reported by Reuters, which says it has multiple sources confirming that Gander Mountain is working with a financial firm to file for bankruptcy.
Related story: St. Louis Area Sports Authorities Closing
After the story was posted, Gander Mountain released a statement claiming itself as the “nation’s largest outdoor retail network,” touting it’s 162 stores in 26 US states. The release did not confirm or deny the report, but said its company is in ‘constant adaptation.’
“We are subject to normal economic cycles, changes in our industry and shifts in consumer demand that require us to adapt our business accordingly.”
There are Gander Mountain locations in Fenton and Chesterfield, Missouri and another store in Fairview Heights, Illinois.
Here is the release by Gander Mountain after the story was posted by Reuters:
As a privately held company, it is our longstanding policy not to comment on our business affairs. Unfortunately, recent speculative news articles have caused concern among some of our customers, employees, and trade partners, and require us to make a rare exception.
Gander Mountain is the nation’s largest outdoor retail network with 162 specialty stores across 26 states. We are a fully integrated Omni-Channel retailer dedicated to servicing the hunting, camping, fishing, shooting sports, and outdoor products markets. As ‘America’s Firearms Supercenter™,’ we are a market leader in the shooting sports category with an extensive offering of firearms, ammunition, and accessories.
Like most retailers, we are subject to normal economic cycles, changes in our industry and shifts in consumer demand that require us to adapt our business accordingly. It’s been that way since 1960, when we started out as a catalog company in small-town Wisconsin, and it remains the case today. It is this constant adaptation and desire to offer our customers the best selection, best value and best service that has been our hallmark for generations.
Gander Mountain and its ownership group have undertaken a best-practices approach to review our strategic options specific to positioning the company for long-term success. When we engage in such a review we often seek information and advice from external advisors to inform our decisions. To assist in this process, we have retained Houlihan Lokey as independent advisors and we are confident that the outcome of the review will identify the right go-forward strategy. In the meantime, our Gander Mountain stores and gandermountain.com remain the place to go for all of our customers’ outdoor adventure needs.
(TM and Copyright 2017 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2017 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)