[Jollymon]

We may score some deals as they start shutting down, But in the long run we'll end up paying more when we have fewer choices to shop.




ST. PAUL, Minn.— Big box outdoor retailer Gander Mountain announced a Chapter 11 bankruptcy filing on Friday, March 10. The Minnesota-based retailer plans to close 32 of its 162 stores in the coming weeks and seek a buyer.

The following is an except from the company’s official statement:

“Today’s action is the result of an in-depth review of the company’s strategic options undertaken in recent months to preserve the value of the company and position it for long-term success. Like many retailers, Gander Mountain experienced challenging traffic patterns and shifts in consumer demand resulting from increased direct-to-customer sales by key vendors and accelerated growth of e-commerce. Despite aggressive actions to improve the efficiency of the company’s retail operations and support functions, the underlying financial impact from underperforming stores and unproductive, excess inventory hampered efforts to create a sustainable path forward.

“The company’s strategic review yielded the following conclusions: A narrowly focused and lower cost operating model is necessary to position the company for profitable growth; The company does not have the financial capacity or time to reset its operations to fully implement the new model and, as a result; The best available path forward is to sell the company on a going-concern basis.”

According to the Minneapolis Star Tribune, company officials expect to hold an auction in mid-April with an anticipated closing date of May 15.

Gander Mountain previously filed for bankruptcy protection in 1996 when it operated 17 stores. Until 2008, the company was unable to publish a catalog or create a website thanks to a $35 million licensing deal with Cabela’s, who purchased Gander’s catalog business during that year. Friday’s filing listed $500 million in liabilities, with one unpaid vendor—California’s Vista Outdoor Sales, the parent company of Federal Ammunition—owed $15 million. Other unpaid vendors include Pure Fishing, Normark, Carhartt, Smith & Wesson and Remington.

Records indicate that Gander Mountain owes Pure Fishing $4.5 million and Normark nearly $1 million. Strike King is also listed as an unpaid vendor, though the company has declined to confirm a dollar figure.

According to TwinCities.com, the following stores are slated for closing:

Alabama (4) – Gadsden, Mobile, Montgomery, Tuscaloosa
Georgia (3) – Augusta, McDonough, Snellville
Illinois (3) – Champaign, Algonquin, Springfield
Indiana (2) – Merrillville, Greenfield
Minnesota (3) – Rogers, Mankato, Woodbury
New York (1) – New Hartford
North Carolina (2) – Raleigh, South Charlotte
Tennessee (1) – Chattanooga
Texas (10) – Houston, Killeen, Laredo, Lubbock, Round Rock, San Antonio, Sugar Land, Texarkana, Waco, West Houston
West Virginia (1) – Charleston
Wisconsin (2) – Eau Claire, Germantown

Overton’s, Inc., a North Carolina-based online retailer of recreational boating equipment owned by Gander Mountain since 2007 is also included in the Chapter 11 filing.

 

[Guest]

A cabelas was just built here about a year ago in Short pump....just outside Richmond va. Word on the street is Bass Pro is or already bought them. I don't know what truth there is to that. We have a place here in Ashland va....just north of Richmond (down the road from bass pro) that blows them all away. Way cheaper and all sorts of live bait.

 

[Jollymon]

A cabelas was just built here about a year ago in Short pump....just outside Richmond va. Word on the street is Bass Pro is or already bought them. I don't know what truth there is to that. We have a place here in Ashland va....just north of Richmond (down the road from bass pro) that blows them all away. Way cheaper and all sorts of live bait.

Bass Pro is still in the process of buying Cabelas, It's being held up by the Securities and Exchange Commission wanting more information

 

[SloppyTilapia]

In Valdosta, the Academy and Gander Mountain are literally a stone's throw away from each other. Gander Mountain was there first......the parking lot is empty most of the time. I figured it would just be a matter of time before GM closed here as well.

 

[1BadF350]

A cabelas was just built here about a year ago in Short pump....just outside Richmond va. Word on the street is Bass Pro is or already bought them. I don't know what truth there is to that. We have a place here in Ashland va....just north of Richmond (down the road from bass pro) that blows them all away. Way cheaper and all sorts of live bait.

Green Top?

 

[Guest]

Green Top?

Not quite as big as a bass pro type store but huge selection for hunting and fishing. Live eels, including the 5$ jumbos that scare people. Big, live goldfish. Every size minnow, wax worms, bloodworms, crawlers, crickets, and lots of frozen ballyhoo, shad, mullet, shrimp, squid, etc.. The people who work there are hardcore fisherman and hunters. They know their stuff and know where to find it on the shelves. 20 cent an oz sinkers, all types and all sizes. Danner boots and they carry CCP. Giant spools of every type line. Oh man....the list can go on and on. They are on average 20-30% cheaper than all the other chain stores. I should get a job there. It might be a push on what I currently make and what I'd save with the employee discount!!

 

[Guest]

Bass Pro is still in the process of buying Cabelas, It's being held up by the Securities and Exchange Commission wanting more information

Whew.... I was hoping for some confirmation. Didn't want to take a butt chewin for gossiping.

 

[DaBig2na]

Gander Mountian
I saw their writing on the wall when they turned all their stores Vanilla, took out all the wildlife mounts and scenery. They wanted to be more like Dicks and lost their indentity. Their prices went up too... The two sores in Raleigh Suck and are in terrible locations.

Greentop
I've been going in there for over 25 years.. I liked the old store better that was on US1 Buisness in Glen Ellen. The new store doesn't have the feel the old store did. Nor the quality employees... some of them are as dumb as a box of rocks. My "go to guy" in the fishing dept. is Gabe.... They might be 10 to 15% less than BP or Cabelas on some things, but that is about it. The rest is pretty close to SRP. Their selection is better because they cater to the local fisherman and hunter.

The Big Box stores have a buyer in a Home Office and set all their stores by a planogram..... stocking Mountian Trout and ice fishing stuf in a store that's in the southeast and closer to the coast than the mountains makes no sense to me.

 

[Guest]

Gander Mountian
I saw their writing on the wall when they turned all their stores Vanilla, took out all the wildlife mounts and scenery. They wanted to be more like Dicks and lost their indentity. Their prices went up too... The two sores in Raleigh Suck and are in terrible locations.

Greentop
I've been going in there for over 25 years.. I liked the old store better that was on US1 Buisness in Glen Ellen. The new store doesn't have the feel the old store did. Nor the quality employees... some of them are as dumb as a box of rocks. My "go to guy" in the fishing dept. is Gabe.... They might be 10 to 15% less than BP or Cabelas on some things, but that is about it. The rest is pretty close to SRP. Their selection is better because they cater to the local fisherman and hunter.

The Big Box stores have a buyer in a Home Office and set all their stores by a planogram..... stocking Mountian Trout and ice fishing stuf in a store that's in the southeast and closer to the coast than the mountains makes no sense to me.

I don't hunt anymore so I dont mess with the hunting guys at the gun counter....can't speak for them gun guys. And in all my visits I've only used a front register twice. Don't remember an issue there. I buy boots and clothing. They know there stuff in that part. I'm in the fishing department a couple days a week when I'm rockin. Never an issue with somebody there either, probably 60 or more visits a year. Bought just about every reel I own from them since moving here. I get to pick out my own eels and boy they are patient. Cause I'll drop 5 on the floor sifting through looking for the biggest and baddest. And 15-20% is right on some things. Fishing reels definitely. A squal 15 is 130 at GT and 150 at Bp. But bass pro sells 8 oz Bank sinkers.... No brass eye - 3.99. Green top 1.60 to 1.80 for any style, brass eye or not. Huge difference! Same with hooks and terminal tackle. Rods are about 5-10 % difference. About the same for filler spools of line.
GT is always having rod sales. Got a trevala S, 90$. Bluewater carnage, 50$. Chain pukes will only do that after Christmas and it sure aint gonna be a rod like them. Gt does it several times a year. Shimano compre was 50$ the other night. They'll put it back to 100 like everyone else but this is the 2nd time in 6 months they've done it. I hate bass pro. Only go if I have too. Never give them your phone# or email. They will blow u up and u wont even be through the exit. Can't look at the fish tank without buying a timeshare or getting a credit card. Anyways, Gt is cheaper, very few, if any, ignorant employees, and live bait. I dont know how any salt guys can speak highly of bass pro. Way waay overpriced salt gear. And the pricks hate u cause they are "tournament bass fisherman" and bait clickers are stupid. I used to like bass fishing when I was a kid and never heard of them but them guys and that place drive me away from it. They can keep it, bass fishing sucks anyways

 

[Catch This]

It is not just the SEC holding up the BassPro purchase of Cabelas. The original deal price was S65.50 a share. Cabelas is currently trading around $46.50 a share. Add to that, both stocked up heavily on guns last year before the election. Unfortunately for them, gun sales havent amounted to what they expected with Donald being elected and both have inventory issues. Cabelas was also going to sell their Credit card operation to Capital One and that has also hit a snag.

I for one like Cabelas and hope the deal never gets done.

 

[dialout]

gander started closing the stores in this area last year. The closest one to me is in the midst of their clearance sale as they shutter it. They no longer accept any coupons or discounts and don't honor advertised prices in gander flyers. The prices now are HIGHER than before. And people are clearin out the shelves by the armload. It's amazing ...I'm friends with the store manager and he told me months ago that the bankruptcy was coming down the pipe. He also said that his store is selling more and profiting more now than in November and December for Christmas sales. They are actually shipping garbage stock from other stores to his because the idiots around here are cleaning it out. I havent bought a single thing since their liquidation sale started.

Hope your sale goes better for you. I hoped to snag a new bow but doesn't look likely.

I am however waiting for the fixtures to go up for sale ....rod displays will make nice storage racks

 

[Guest]

Gander Mountian
I saw their writing on the wall when they turned all their stores Vanilla, took out all the wildlife mounts and scenery. They wanted to be more like Dicks and lost their indentity. Their prices went up too... The two sores in Raleigh Suck and are in terrible locations.

Greentop
I've been going in there for over 25 years.. I liked the old store better that was on US1 Buisness in Glen Ellen. The new store doesn't have the feel the old store did. Nor the quality employees... some of them are as dumb as a box of rocks. My "go to guy" in the fishing dept. is Gabe.... They might be 10 to 15% less than BP or Cabelas on some things, but that is about it. The rest is pretty close to SRP. Their selection is better because they cater to the local fisherman and hunter.

The Big Box stores have a buyer in a Home Office and set all their stores by a planogram..... stocking Mountian Trout and ice fishing stuf in a store that's in the southeast and closer to the coast than the mountains makes no sense to me.

You hit the nail on the head speaking of locations. There were three Gander Mountain stores within an hour of me. All three of them took more turns than a NASCAR race to get to from a main highway and besides one were hidden from view. One of the stores are already closed, another is busy selling everything off. Whoever was getting paid the big bucks to pick store locations sucked badly at their jobs to put it mildly. The store I went to near Pittsburgh was a mess to get to. The store in Washington, PA is hidden in an old shopping complex. It is shutting down right now as well. The store in Greensburg, PA is staying open but getting to it off of route 30 is a guessing game.

 

[Bosco]

In Valdosta, the Academy and Gander Mountain are literally a stone's throw away from each other. Gander Mountain was there first......the parking lot is empty most of the time. I figured it would just be a matter of time before GM closed here as well.

In Greensboro they are building an Academy a stone's throw from Field and Stream, I'm sure FS will suffer may go the way of the Cary/Carpenter location. Some do, some don't but I like FS just lacking selection. Gander has a pretty good selection but have high prices and their sales do not cut very deep, to me 10-20% off is not really a sale. The Cary/Morrisville location has about the best selection of Dexter/Russell around as far as big boxes go.

 

[greg12345]

greentop's fly tying section is top notch as well, better than most dedicated fly shops here in central va

 

[Catch This]

Everything about Greentop's is top notch

 

[Guest]

Everything about Greentop's is top notch

Ya, I didnt mean to rant a little and I didn't mean to sound defensive either. My ole lady is from Mechanicsville and she remembers the old store well. I'm a transplant and only know what it is now. I like the place a ton and I always leave inspired and I save a little money in the process.

 

[DaBig2na]

Ya, I didnt mean to rant a little and I didn't mean to sound defensive either. My ole lady is from Mechanicsville and she remembers the old store well. I'm a transplant .

Does everyone where you come from refer to their spouse, wife or significant other in such a disrespectful way?

 

[Jollymon]

Glad he didn't say "His Partner"
My Old Lady is a poor choice of words

 

[Guest]

Does everyone where you come from refer to their spouse, wife or significant other in such a disrespectful way?

I guess ... Maybe....idk. My ole lady is cool with it. She's here now. No problems. Daughter of the confederacy, vcu and college of Charleston graduate.
I knew this would eventually come down to this with you. Couldn't wait for the day. We'll meet up one day and we can discuss. Not worried about ur buddies, they just wanna fish. They won't stick up for ya when it goes down.
You've bullied and ran off a few people but u should choose wisely who u internet tough guy. I'm just tryin to learn so maybe one day I can be as cool as my idol "2na"
You should go fishing more or get laid. You talk a lot about fishing. ...similar to an 8th grade boy., but yet, only fish when the weathers perfect and all ur friends are there. U don't bother me. I'll take ur rods, reels, and your shoes big boy. U trash greentop, shock knots, budget fisherman, and anybody with an inquiry.

GO FISHING TUNA......YOU'LL BE ALOT HAPPIER

 

[Guest]

I guess ... Maybe....idk. My ole lady is cool with it. She's here now. No problems. Daughter of the confederacy, vcu and college of Charleston graduate.
I knew this would eventually come down to this with you. Couldn't wait for the day. We'll meet up one day and we can discuss. Not worried about ur buddies, they just wanna fish. They won't stick up for ya when it goes down.
You've bullied and ran off a few people but u should choose wisely who u internet tough guy. I'm just tryin to learn so maybe one day I can be as cool as my idol "2na"
You should go fishing more or get laid. You talk a lot about fishing. ...similar to an 8th grade boy., but yet, only fish when the weathers perfect and all ur friends are there. U don't bother me. I'll take ur rods, reels, and your shoes big boy. U trash greentop, shock knots, budget fisherman, and anybody with an inquiry.

GO FISHING TUNA......YOU'LL BE ALOT HAPPIER

My "ole lady" .... Who is here says.... "Ole lady is a term of the south". I won't post a link...... I'm sure ur gadgets can find it. Find something better to rip me on. Believe me..... I cry foul on myself daily. Ur north/south attitude has gone way with the buffalo. I'll take all the lashins and guidance i can get to beach some drum. Won't stand for this stuff u pick about