Gander Mountain to sell off assets, Niles store still not on ‘closing’ list

The filing allows for a "going out of business sale" and provides guidelines for transfer or property and assets

Courtesy: WCMH

NILES, Ohio (WYTV) – A bankruptcy court has given the Gander Mountain Company the green light to sell off its assets to Camping World Holdings after filing for bankruptcy in March.

Papers filed Thursday in a bankruptcy court in Minnesota allows for a “going out of business sale” and provides guidelines for transfer of property and assets.

SALE ORDER FROM BANKRUPTCY COURT

Both Camping World and Gander Mounter will continue as brands, with Gander Mountain taking a diminished role.

Gander Mountain filed for bankruptcy in March with assets and liabilities each listed as worth up to $1 billion.

In a conference call to discuss earnings, Camping World Chairman and CEO Marcus Lemonis highlighted what he called a barrage of management mistakes from Gander Mountain that he referred to as “stupid.”

Eastwood Mall spokesperson Joe Bell said they have not received any information about a new owner for the Niles store.

We have not heard from the management of Gander Mountain or that of the winning bidder for its assets. We understand that Camping World is interested in operating as many as 17 Gander Mountain locations but has not decided which ones. In the meantime, our leasing executives have been in discussions with other parties who may be interested in operating in the Eastwood Mall location, a building that is less than one year old.

Gander Mountain filed for Chapter 11 bankruptcy in March and said that it intended to sell the company. At that time, the company announced it will close 32 underperforming stores. None of the affected stores are located in Ohio.

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