Gander Mountain begins liquidation, but some stores may not close

Gander Mountain has begun liquidating the merchandise at all 126 of its outdoor stores, including two in Northeast Florida. (Gander Mountain)

Gander Mountain has begun liquidating the merchandise at all 126 of its outdoor stores, including two in Northeast Florida. But it’s not clear which of the stores will actually close.

 

It started last week when the store’s website announced that all stores were going out of business and, of course, that “Everything must go now!”

The home page on the company’s website stills shows the announcement: Going out of business, total liquidation. Gift cards will be accepted through May 18.

But Marcus Lemonis, star of CNBC’s “The Profit,” owner of Camping World and investor in Jacksonville’s Sweet Pete’s, bought the chain last week and said that he intends to keep at least 70 stores open.

“So Gander Mountain filed bankruptcy as you know, and about 10 days ago I bought all of the assets, all of the intellectual property, all of the trademarks, all of the leases and the Overton’sbusiness. Except for the fact that I did not buy, intentionally, the inventory that’s in the stores,” Lemonis told The Indianapolis Star Sunday morning. “A liquidator bought the inventory that’s in the stores and they have the right to sell that inventory down and out as if it’s going away. But the confusing message is whether a store is staying open or not. And ultimately we control the leases … every single property.”

An employee at the Gander Mountain in River City Marketplace said the sale started there on Thursday, that it was packed over the weekend, but that she hadn’t heard if the store would close or not. That store and the Gander Mountain on Prime Outlets Boulevard in St. Augustine opened in 2007.

The chain has filed for Chapter 11 bankruptcy in March and announced that 32 stores in 11 states would close. None in Florida were on that list.

A joint venture consortium consisting of Tiger Capital Group, Great American Group, Gordon Brothers and Hilco Merchant Resources is handling the liquidation.

Roger Bull: (904) 359-4296

 

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