BigBendFishing.Net

The largest U.S. recreational vehicle dealer, Camping World Holdings Inc., and a group of liquidators won a bankruptcy auction for St. Paul-based Gander Mountain Co. on Friday, according to a bankruptcy court filing.

The value of the winning bid for the sporting goods retailer was about $390 million, according to people familiar with the matter who requested anonymity to discuss the details of the auction results.

The Camping World-led group bested a going-concern bid for Gander Mountain from rival Sportsman's Warehouse Holdings Inc., the sources said.

Camping World, which is run by Marcus Lemonis, a star on CNBC TV's reality show "The Profit," plans to operate at least 17 Gander Mountain stores as a going concern, the sources said. An auction for Gander Mountain's remaining more than 100 leases will be conducted later, the sources said.

The consortium also won all of Gander Mountain's intellectual property and its Overton's boating business, the sources said.

Wonder if, when all is said & done, the only place left to buy bait/tackle will be JR's.


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That does not sound like good news for Gander employees. I don't get a good feeling from Camping World these days.

Camping World CEO tweeted stores that are staying open and Jax, Valdosta and Ocala locations made the list. Bankruptcy clearance sale now and then these and other remaining stores will be re-stocked and employees kept on.

I was in Ocala location last Friday, big going out of business sign , prices were not reflective to me of them going out of business

I suspect the minute the sandwich board hawkers hit the street corners, all of these going-out-of-business vendors jack retail prices up 10%.

One in Albany is having a going out of business sale now.

Albany is also on the list of stores that will reopen after the GOOB sale concludes. Gift cards are not valid after May 18, so fast-moving developments.

The Dothan store is closing but I haven't heard any mention of an inventory sale. They'll probably just ship the inventory to Albany.

JIm Smith wrote:I was in Ocala location last Friday, big going out of business sign , prices were not reflective to me of them going out of business

I went by last night and I agree, the prices do not reflect liquidation prices.

MudDucker wrote:

JIm Smith wrote:I was in Ocala location last Friday, big going out of business sign , prices were not reflective to me of them going out of business

I went by last night and I agree, the prices do not reflect liquidation prices.

I was in Albany this weekend but decided not to go by Gander yet. Most of the law liquidation sales are done on a step type system. They will first put stuff on sale for say 10% off and wait awhile then go to 20% off, until everything sales. They try and get as much money as possible in the time frame they have. Usually pays (or saves) to wait a little while.

that or the employees squirrel away the good stuff till it is 50% or more off, then buy it themselves.

I went to make a return and use a coupon. Allowed return, but no joy on coupon. Did get me a goretex rain hat for $21, which was a heck of a deal.

The Dothan Al store has a couple of items marked as 30% off, a few more at 20% and almost everything else at 15% off original price so that puts the prices about the same as Academy Sports every day price. I'll go back when they drop the prices to 40-50% off.