1. News
March 13, 2017

Gander Mountain to close 32 stores in US

US-based outdoors retailer Gander Mountain has plans to close 32 of its 162 stores across the country.

US-based outdoors retailer Gander Mountain has plans to close 32 of its 162 stores across the country.

One third of these outlets are located in Texas, reported Statesman.com.

Last Friday, the retailer filed for Chapter 11 in the US Bankruptcy Court for the District of Minnesota.

In a statement, the company said: "Today's (Friday) 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.

"The underlying financial impact from under-performing stores and unproductive, excess inventory hampered efforts to create a sustainable path forward."

 "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 under-performing stores and unproductive, excess inventory hampered efforts to create a sustainable path forward."

The under-performing stores will close over the next few weeks, reported Upnorthlive.com.

Set up in 1960, Gander Mountain is a retailer of hunting and camping supplies. It had gone public twice besides filing for reorganisations.