Gander Mountain Co. (St. Paul, Minn.) may have a buyer, reports Bloomberg. Sportsman’s Warehouse Holdings (Midvale, Utah) is interested in placing a bid on the bankrupt company, which filed for bankruptcy on March 10.
The bid is expected to be for up to 80 percent of the company’s stores, which will likely be kept open. Sportsman’s has not yet decided whether it would run any of these stores under the Gander Mountain banner or its own. Most of Gander Mountain’s stores are located in the eastern U.S., while many of Sportsman’s stores are concentrated mostly in the West.
Neither company has confirmed the news, though it reportedly comes from knowledgeable sources.
If no buyer comes through, Gander Mountain plans to conduct going-out-of-business liquidation sales for all of its stores.