Gander Mountain going down?
Company reportedly on brink of bankruptcy
Gander Mountain, a Minnesota-based company that came to Springfield in 2009, is reportedly preparing to file for bankruptcy.
Reuters has reported that the company, which is known for firearms sales, has retained outside financial advisors and a law firm to prepare a bankruptcy filing. The privately held company did not deny that it is in trouble in a written statement issued last week.
“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,” the company said in the prepared statement. “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…independent advisors and we are confident that the outcome of the review will identify the right go-forward strategy.”
Reuters reported that a bankruptcy filing could come as early as this month. The company owns more than 150 stores in the United states and has opened or announced the opening of 60 new stores since 2012, according to Reuters.
Contact Bruce Rushton at firstname.lastname@example.org.