Update: New CEO says 70+ Gander Mountain stores will remain open - Tri-State News, Weather & Sports

Update: New CEO says 70+ Gander Mountain stores will remain open

Source: GanderMountain.com Source: GanderMountain.com
(WAFF) -

Update 5-7-2017 

On Saturday it was widely reported that Gander Mountain would close all of its locations nationwide. That, after being acquired by Camping World Holdings Inc. last week via bankruptcy auction.

The Gander Mountain website has declared a total liquidation sale of all 126 locations, noting that gift cards on remaining inventory will only be accepted until May 18.

On Sunday Marcus Lemonis, the CEO of Camping World Holdings Inc., posted a video to Twitter responding to the reports. Over the weekend he also responded to a number of tweets about the fate of certain stores.

In the video, Lemonis explains that the liquidation sale isn’t tied to the future of Gander Mountain.

Lemonis’ company acquired the intellectual property of the Gander Mountain and Overton’s brands, as well as the property leases each hold. A separate company bought the remaining inventory held at each location and their distribution centers. 

Although the fate of many individual stores remains up in the air, Lemonis says he is hopeful that at least 70-75 Gander Mountain locations will remain in business. Finding a path to profitability and correcting the company's past mistakes is key to its future. 

Lemonis advises those wondering about specific locations to keep an eye on his Twitter feed

Previous

After 57 years in operation, Gander Mountain is going out of business and closing all of its locations nationwide.

In March the outdoor giant filed for voluntary Chapter 11 Bankruptcy. The move marked the beginning of a restructuring process they hoped would leave the retailer operational.

The move failed.

Gander Mountain and Overton’s were acquired by Camping World Holdings Inc. just over a week ago in a bankruptcy auction.

Initial reports stated that at least 17 brick-and-mortar stores would remain in business. That is no longer the case, as the decision has been made to shutter all 126 locations.

Effective immediately, all sales at Gander Mountain are final. There are no refunds, no exchanges or adjustments for prior purchases and inventory is limited to stock on hand.

Gift cards will only be accepted until May 18.

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