Gander Mountain is one of a few national chains dedicated to outdoor sports that sells firearms. Along with stores like Cabela’s, Bass Pro, Dick’s and Academy, they offer gear for everything from camping to hunting and everything in between, but do doubt in part because of its slumping firearms business, Gander Mountain is in trouble. According to stltoday.com, the St. Paul Minnesota based retail store is no longer able to support itself and is closing a number of stores.
Gander Mountain, which filed for Chapter 11 bankruptcy protection on Friday, said it will shutter 32 “underperforming” stores, but none in the St. Louis area.
The struggling outdoors retailer also said it has secured debtor-in-possession financing from Wells Fargo, and is in discussions with “a number of parties” interested in bidding on the company. It hopes to close on a sale by May 15, the company said.
“Employee pay will continue to arrive on time and in full, employee benefits will remain in place, retirement accounts are intact and protected,” Gander Mountain said in a statement.
In the wake of Donald Trump’s election firearms sales are in a significant slump. The panic buying that happened when Barack Obama announced his planned “assault weapons” ban and Hillary Clinton was expected to be the next Commander In Chief saw huge increases in gun purchases by the general public. But without that driving force companies are having a tougher time making ends meet. SilencerCo just had a round of layoffs not too long ago, Remington cut staff in New York yesterday, and now Gander Mountain has fallen the latest victim of the firearms slump.
Donald Trump might be driving job creation in other industries, but he’s isn’t doing any favors for the gun business.