More store will be closed by Gander Mountain if what the Milwaukee Wisconsin Journal Sentinel is reporting is about to turn true. In short MWJS is reporting that Gander Mountain will be filing for bankruptcy protection very soon and that as a result jobs may be lost.
Here is the summary of what Gander Mountain may do as it relates to bankruptcy per MWJS reporting:
- Gander Mountain works on bankruptcy filing, as early as this month, MWJS is quoting Reuters on this
- Reuters claims they have insider info
- GM is working Lighthouse Management Group Inc. and law firm Fredrikson & Byron PA on the filing, given what the companies do, it’s likely they are working on the BK
- All parties involved declined to comment, the sources want to stay anonymous
- The outdoor sporting goods segment is in turmoil, Bass Pro Shops bought Cabela's, Sports Authority went bankrupt – it’s tough.
- Saint Paul, the main office of Gander Mountain will be hit hard
- Reminder: GM was taken private in 2010 by Gratco
That's it for now - let's see if Gander Mountain is able to avoid bankruptcy - I think it's all over for us but we'll see.