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Gander Mountain May Soon File for Bankruptcy

gander mountain

According to some insiders, renowned outdoor retailer Gander Mountain may be facing tough financial times.

Gander Mountain reps are remaining quiet, but some sources are indicating they may soon file for bankruptcy.

With 160 stores spread over 27 states, the privately owned company, known as a top firearms retailer, and for fishing and hunting gear, joins a list of other struggling superstores, such as the Sports Authority, which shuttered 300 of its brick-and-mortar stores in 2016.

The president of Gander Mountain, Jay Tibbets, has refused to comment on rumors of impending bankruptcy.

Gander Mountain was also unable to sell its catalog and web boating business, Overton’s, as no buyers were seemingly interested, which has fed rumours there is financial difficulties ahead.

Reuters New Agency indicate Gander Mountain has a credit line and loans of $525 million but there is no clear indication of how the credit is being used.

Market watchers will continue to wait for an official release on the financial picture from Gander Mountain representatives.

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Gander Mountain May Soon File for Bankruptcy