Reuters: Gander Mountain To File For Bankruptcy

The online news agency Reuters reports that the outdoor store Gander Mountain is preparing to file for bankruptcy, meaning the store located off Highway 75 and 81st Street could be closing its doors. 

After opening its doors less than two years ago, the future of the Gander Mountain at 'The Walk at Tulsa Hills' is now uncertain. 

As retail giants like Macy's and Sears have been announcing store closings, it appears Gander Mountain could be following suit. 

Reuters, an online news source, reports the company could file for bankruptcy as early as this month. 

In January, the sporting goods retailer announced through an ad in a local Pennsylvania newspaper that it was having closing sales at two Pennsylvania locations.  

A spokesperson for Gander Mountain said the stores were closing "due to expiring leases at the end of the year." 

The news comes after the Minneapolis-based company opened almost 60 stores in the last five years. 

When Gander Mountain opened in Tulsa in 2012  the store hoped to staff 70 positions. 

Between 2012 and 2013 the company also opened four other stores in Texas.

Reuters' report comes shortly after the hunting and fishing chain Bass Pro Shops agreed to buy Cabela's last year for $5.5 billion, a deal that has yet to be approved. 

A spokesperson for Gander Mountain told News On 6 that the company is "not sharing" any internal information and "no retail stores are currently affected." 

According to Reuters, Gander Mountain would be the fifth outdoor retailer to file for bankruptcy in the last year. 

Gander Mountain issued a statement after this story aired:

“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.”