The Gander Mountain retail chain is liquidating, but that doesn't mean all of the stores are closing, the new owner says.
JACKSON TWP. The Gander Mountain chain is going out of business and has launched a liquidation sale, but that doesn't guarantee the local store is closing.
Last week, Camping World Holdings bought the Gander Mountain brand, along with leases on the company's stores. Meanwhile, a separate group of investors bought the chain's inventory and Friday they announced the liquidation sale.
The sale of Gander Mountain's assets was approved by the U.S. Bankruptcy Court for the District of Minnesota. The outdoors retailer, based in St. Paul, Minn., had entered bankruptcy in March.
The liquidation sale declares that Gander Mountain's locations are going out of business, sparking reports that all of the retailer's stores will close.
So on Sunday, Marcus Lemonis, chairman and chief executive officer of Camping World, took to Twitter in an attempt to clarify the matter. And on Monday morning the company issued a press release.
Lemonis, who has a CNBC program called "The Profit," said in a video posted on Sunday to Twitter that Camping World hopes to keep 70 to 75 of the Gander Mountain locations open. He tweeted on Monday a list of about 50 locations that will remain open.
So far, the Gander Mountain at 4938 Portage St. NW is not listed as remaining open, but as of Monday afternoon stores in Huber Heights, Reynoldsburg and Toledo were listed as staying open.
Camping World sells new and used recreational vehicles and operates a retail center at 1005 Interstate Parkway in Green. That company has more than 125 locations in 36 states.
In a news release issued by Camping World, Lemonis said the company has reviewed the Gander Mountain locations and hopes to operate 70 or more. The ability to negotiate lease terms acceptable to Camping World and the bankruptcy court will be a factor in what locations remain open.
The company plans to keep open stores it believes have a "clear path to profitability." Lemonis said liquidation of Gander Mountain's inventory will allow the company to start with a clean slate of what it considers an appropriate mix and level of inventory.
According to the liquidation announcement, Gander Mountain gift cards will be accepted until May 18.
In the website post, Gander Mountain welcomed Camping World and noted the companies share a passion for the outdoors, "making for a great melding of businesses and outdoor communities" The website urges customers to check back this autumn for more details.
Reach The Canton Repository's newsroom at firstname.lastname@example.org
On Twitter: @CantonRepdotcom