Gander Mountain Co. is reportedly preparing for a debt restructuring in bankruptcy proceedings, sources told Reuters.
Sources told Reuters that financial adviser Lighthouse Management Group Inc. and law firm Fredrikson and Byron have been hired to assist in the process. The company’s struggles are due to an over-aggressive expansion plan.
Headquartered in St. Paul, MN, Gander Mountain operates more than 160 stores in 27 states. In 2019, the hunt & fish retailer went private and it’s now owned by David Pratt and the Erickson family, which owns Holiday Station Stores, a convenience store chain.
Photo courtesy Gander Mountain
