Reports: Gander Mountain preparing to file for bankruptcy

[Smoke4320]

Reports: Gander Mountain preparing to file for bankruptcy
Katie DeLong
23 hours ago
Gander Mountain is preparing to file for bankruptcy, according to the Minneapolis/St. Paul Business Journal.

According to the Business Journal, a report from Reuters cites unnamed sources familiar with the matter.


Officials with the St. Paul, Minnesota-based hunting and outdoor retailer have hired Minneapolis law firm Fredrikson & Byron and New Brighton-based Lighthouse Management Group as a financial advisory firm as it prepares its filing, the Business Journal is reporting.


Gander Mountain officials declined to comment, with a spokesman telling the Star Tribune: “They’ve taken a vow of silence.”

[starmac]

Well, I hate to hear that, they are the one and only source I have ever found for the frog togg caps.

[Finster101]

Judging by the one in Orlando/Lake Mary I'm not surprised. I've always found them to be way over priced.

[timspawn]

I think there are three on I-75 between here and the FL GA line. I was in the one in Albany GA during archery season and again in November. Prices seemed in line with BP and Cabelas, at least for the stuff I was looking at.

[shoot-n-lead]

This is probably what Bass Pro/Cabelas wanted...and it does not surprise me. The one store we have within driving distance of us, is miserable.

[RogerDat]

Having prices in line with Bass Pro is hardly going to encourage me to shop there. I go to Cabela's down by Dundee from time to time and prices are not great but tolerable, I made one trip to Bass Pro to buy ship to store powder and I am convinced they had the hard to find powder because they were 20% more than anywhere else. Haven't been back.

Don't hit Gander Mt. more than once a year just not convenient for me and the times I have been there I didn't find what I went for. Still hate to see a choice go and reduction in competition won't help prices any.

[country gent]

My complaint with gander Mountains isn't just the prices they charge. The Local GM here changes their stock and or inventory quite often meaning what I buy there may not be in 6 months to a year.

[timspawn]

http://www.wideopenspaces.com/bass-p...paign=20170214

[DanishM1Garand]

Chapter 11 or Chapter 7 is the question.

They have poo for reloading, prices are sky high, selection is ecxerable. Seriously, a DPMS rifle for 1200 bucks? They wouldn't even talk to me about a Henry in .41 Magnum. "Nope, can't get it!". Yet they have two dozen Henry rifles in othe calibers.

The destructive dynamics of capitalism are at work here. Serve your customers or they will abandon you.

[tygar]

Ok by me! Havn't bought anything from them in years. Hi prices, poor stock, etc. etc.

[bob208]

I was in the local gm years ago. over priced poor service not much in the line of guns. I go to the local mon and pop gun shops. keep them in business.

[Moleman-]

Used to live near the headquarters in or near Bristol Wi. They also had a building in the parking lot where they sold returns or stuff that didn't sell at a decent discount. Had a friend working there that summed up how they lost their catalog division years ago pretty well. They grew and hired college kids who didn't know the business but knew numbers. They stopped stocking things that margins weren't good on even if it was something that got guys into the store to buy other stuff and vastly expanded clothing. They opened new stores and stocked them with merchandise from the catalog division. Guess what, not many people wanted an $80 gander mountain sweat shirt so some of the new stores went under and since they were stocked with catalog merchandise they took that with them. Had to sign a non-compete clause that kept them from having a catalog division for a number of years which only helped cabalas and bass pro grow. They never fully went back to limited clothing and concentrate on hunting/fishing stuff. The local ones here are almost 1/2 clothing. Camo clothing I get, but if I want jeans or shirts gander isn't where I'm going to get them. Their reloading sections are also pitiful. Their used gun prices are high, but so is the local cabalas. I will hate to see them go as I do stop in there a couple times a month on average, but often walk out without what I went in to buy. Still beats going to the grocery store or a shop the Mrs picks out.

[Petrol & Powder]

They also seem to put a LOT of capital into new facilities. Most of the GM stores I've seen are brand new buildings, on prime real estate in the urban ring of a city. Then they charge prices for merchandise that can found at other sources for much less. I don't know if the 1st post of this thread will prove to be true but it wouldn't surprise me if is does.

They've got a lot of money tied up in buildings and real estate and not a lot of sales to support it.

[Beagle333]

Gander Mountain = high price.

[Plate plinker]

No loss to me with the high prices and nearest store 40+ miles away.

[Lloyd Smale]

no sympathy from me. I hate that store. Prices are way to high, the gouge people during shortages. My wife knows more then the guys behind the gun counter about guns and loading. One other thing that really torqued me off and this might just be a local thing. But after the price of 22s went skyrocketing the people working in the store were buying them when they came in and selling them to there buddys and jacking up the price even higher and selling them to other people. I have to be desperately in need of something to walk in that store again.

[dragon813gt]

Less competition is never good for the consumer. That being said I've never stepped foot into a Gander store. There are none close to me. Their reputation precedes them so there is no reason for me to go out of my way for one of their stores.

[nagantguy]

Yep, trendy high priced and never seem to have what I want at any price anyhow! Good buddy and me went to one just before Christmas cause they had the new sig 320 or whatever one he's been drooling over, they had them about 175-200 over anyone else's price! While he was haggling on that I looked at the center display, magpul mags gen 2 on sale for 14.99, the local shop has them for $10.99 everyday

[GhostHawk]

Overpriced, service at ours was never that good.
When the service person I finally found figured out that I just wanted a couple of Hipoint Magazines not a new gun he waved me in the general direction and went back to his coffee and magazine.

Needless to say I won't go back anytime soon.

[Freightman]

The one here is over priced Academy is much better, plus they built way west of town to save city taxes but the store has an exit but to get back on I40 you drive 5 miles. Poor planing IMHO.