Gander Mountain extended the maturity date on its $10 million term loan with its two major shareholders from March 30 to June 30, according to its 10Q filed this week. The company said that current borrowing availability under its facility with Bank of America as of June 10, 2009, was $36.3 million. The retailer said it intends “to satisfy all of our capital requirements in the next 12 months with cash flows from operations and funds available under our credit facility.” But the retailer did note that if sales and cash flows from operations do not meet anticipated levels, credit markets are disrupted, and Bank of America lowers its advance rates further, “the company would need to seek additional financing.”
