Gander Mountain to keep open Wichita store during bankruptcy

Gander Mountain filed for Chapter 11 bankruptcy reorganization Friday and will close 32 stores, but not its downtown Wichita store.

The St. Paul, Minn.-based outdoor and sporting goods retailer said in a news release that the bankruptcy filing in the U.S. Bankruptcy Court for the District of Minnesota was “the result of an in-depth review of the company’s strategic options undertaken in recent months.”

“Like many retailers, Gander Mountain experienced challenging traffic patterns and shifts in consumer demand resulting from increased direct-to-customer sales by key vendors and accelerated growth of e-commerce.”

The company plans to close 32 stores it said are underperforming in Alabama, Georgia, Illinois, Indiana, Minnesota, New York, North Carolina, South Carolina, Tennessee, Texas, West Virginia and Wisconsin.

Gander Mountain said it has a debtor-in-possession financing commitment underwritten by Wells Fargo to continue operating its remaining stores. Its reorganization plan calls for the sale of the company.

This story was originally published March 10, 2017 at 3:57 PM with the headline "Gander Mountain to keep open Wichita store during bankruptcy."