Gander Mountain files Chapter 11, joins others
The latest national retailer filing for Chapter 11 bankruptcy protection is Gander Mountain, which will close 32 of its 162 stores, including two underperforming stores in Wisconsin, although none thus far in the Greater Madison area.
USA Today and msn.com report that sports retailers have been hit hard, from MC Sports to Sports Authority, with retailers like Golfsmith and now Gander Mountain the latest to shutter store locations. Gander Mountain is actively seeking a buyer. Each Gander Mountain store employs between 20 and 30 workers, according to media reports.
Many retailers are struggling as consumers shop more and more online. Eau Claire will lose its Gander Mountain as well as a Macy’s, as Macy’s announced a while back that it, too, would be closing retail locations. And while Kohl’s appears comparatively strong, some analysts suggest it, too, needs to close more stores to remain competitive.