A few months back we reported that the outdoor chain Gander Mountain filed for bankruptcy.
They reported at that time that they were looking for a buyer. It was announced this past week that the nation’s largest RV dealer Camping World purchased the company for 390 million.
According to Reuters, Camping World Holdings Inc, and a group of liquidators won a bankruptcy auction for sporting goods retailer. They bested a bid form Sportsman’s Warehouse Holdings Inc to secure the deal.
Camping World plans to operate at least 17 Gander Mountain stores. An auction for Gander Mountain’s remaining more than 100 leases will be held later. This means be on the lookout for more stores to be closing.
Within the retail sector, sporting goods is going through a period of consolidation and distress. Gander Mountain competitors including Sports Authority Inc and Eastern Mountain Sports also have filed for bankruptcy.
For the complete press release from Reuters CLICK HERE