Gander Mountain files for bankruptcy, closing 4 Alabama stores

– The outdoor chain Gander Mountain is filing for Chapter 11 Bankruptcy and closing 32 underperforming stores including those in Morrisville, at 2100 Village Market Place, and in Charlotte.

Also, General Wireless, the company that owns RadioShack, announced it was filing for Chapter 11 bankruptcy and is in the process of closing almost 200 stores.

Part of the plan includes closing 32 of the company’s 162 stores.

Gander Mountain does not disclose financial data, but Dun & Bradstreet estimates the company’s annual sales at slightly more than $1 billion, with 5,605 employees nationwide.

After reports of the potential it could happen, Gander Mountain has officially filed for bankruptcy.

The store’s manager directed all questions to the St. Paul, Minn., corporate headquarters.

Albemarle County’s Gander Mountain retail store will remain open, according to the national retailer’s list of outlets to be closed.

“A narrowly focused and lower cost operating model is necessary to position the company for profitable growth”, the retailer said.

The company said the “surprisingly poor performance of mobility sales” pushed it into another bankruptcy. There have been at least ten other bankruptcies among sports chains with over $10 million in liabilities in the a year ago and a half, according to bankruptcy research source Reorg First Day.

Some customers said Gander Mountain is one of their go-to shopping destinations and they are sad to see it go. “They asked questions, sure, but we’ve been clear with them about information the company released”.

All stores will continue to honor gift cards, Myers said. Gander Mountain has reduced the prices available in its online inventory by 15 percent to 25 percent.