Outdoor retail chain Gander Mountain filed for Chapter 11 bankruptcy and will close more than 30 stores nationwide, including two in Indiana.
The Minnesota-based retailer will shut down locations in Greenfield and Merrillville as part of its restructuring plan. Stores in ten other states will also close.
Other Indiana locations in Evansville, Lafayette, Fort Wayne, Avon, Greenwood, Terre Haute and Indianapolis are expected to remain open.
The 32 locations scheduled to close were underperforming, the company said. The retailer is looking for a buyer and said there were “active discussions” with a number of interested parties.
The chain is looking to lower its operating costs in order to compete with online retailers. The closures will begin in the next several weeks.
The company anticipates that business operations will continue as usual during the restructuring period. Employees will continue to receive their paychecks and benefits, the company said.
Gander Mountain has more than 150 stores in 26 states.
The company posted the following letter to customers:
Dear Gander Mountain Customer:
As you may already have heard in media reports, Gander Mountain has voluntarily filed for protection under Chapter 11 of the U.S. Bankruptcy Code.
This filing is an important step in our restructuring, but our highest priority is to make it a non-event for you. As such, I want to assure you that your Gander Mountain store is open, stocked and staffed to meet your needs. Our website – gandermountain.com – is available to you 24 hours a day from the comfort of your home, truck or cabin.
Yesterday, today and tomorrow, we are 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. We expect to be your partner for shooting and outdoor sports for years to come.
As we go through this process, the 7,000 employees of Gander Mountain will do everything in their power to make it invisible and inconsequential to you. As always, our focus will remain on giving you the same great products and customer service that you deserve.
Here’s a list of stores due to close:
- New Hartford
- South Charlotte
- Round Rock
- San Antonio
- Sugar Land
- West Houston
- Eau Claire