The new owner of Gander Mountain said plans call for all inventory of the outdoor gear retailer to be liquidated, but 70 or more of its 126 store locations would eventually reopen.
In March Gander Mountain and Overton’s filed for Chapter 11 bankruptcy and was acquired by Camping World Holdings Inc. That company is headed by Marcus Lemonis, host of the popular CNBC show “The Profit,” which focuses on struggling companies he invests in and helps direct back toward profitability.
“After reviewing the stores in more detail since our successful bid in the bankruptcy process, our current goal is to operate 70 or more locations subject to, among others things, our ability to negotiate lease terms with landlords on terms acceptable to us and approval of the bankruptcy court,” Lemonis said in a press release. “The current liquidation of the existing Gander Mountain inventory will allow us to start with a clean slate of what we consider the appropriate mix and level of inventory, including the addition of Camping World and Overton’s offerings where appropriate.”
Lemonis and Camping World Holdings intentionally did not buy the inventory, which was acquired out of bankruptcy court by a liquidator.
Gander Mountain suffered from stiff competition from larger, better financed outdoor goods chains like Bass Pro Shops and Cabela’s.
Here is a video of Lemonis talking about plans for the Gander Mountain and Camping World assets going forward, and dispelling media reports that the entire chain was being shuttered in the wake of bankruptcy.