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Gander mountain filing bankruptcy

Discussion in 'The Lounge' started by Legend killer, Feb 11, 2017.

  1. I Think Dick's will be following suit...Dont know how Field and Stream is doing
     

  2. Field and Stream and Dicks is all the same company.
     
  3. Saugeye Tom

    Saugeye Tom River Pilgrim & Sojourner

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  4. Byg

    Byg

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    was he the manager in Huber?
     
    Saugeye Tom likes this.
  5. beaver

    beaver swamp crawler

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    I've never been impressed with gander. I hate to see a company go down though.
     
  6. I called on Holiday Stores, a convenience store chain (290 stores) based downtown Minneapolis. They had a fine building in the heart of it all. The first time calling on the chain I was surprised to see they also owned the chain Gander Mountain. No Holiday stores around here the closest would be Gaylord, MI. But is that chain going down also.
     
  7. I am not surprised. Their prices are high and in my experience the customer service is lacking. The inventory is very hit and miss. Buying a gun from them has always been an interesting experience for me. I gave up on them several years ago.
     
    Salmonid and 9Left like this.
  8. bobk

    bobk

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    Sad to see this. I have been to the Reynoldsburg store several times and always had very good service. These people have jobs and hopefully they won't lose them in the future.
     
    Shortdrift and Saugeye Tom like this.
  9. beaver

    beaver swamp crawler

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    I've never had a good experience with gander, but I hate to see any company go under. When a company goes down, that is revenue for the municipalities and jobs for Americans going down as well.
     
    crappiedude likes this.
  10. get all my stuff at Marks bait on rt 14,if he dont have it he will get it. i can wait.
     
    Daego Doug and Decoy hound like this.
  11. RiparianRanger

    RiparianRanger formerly known as BronzebackFanatic

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    The article does not specifically say the company was pushed to the brink by debt but phrases like "aggressive effort to expand" and highlighting several lines of credit suggest Gander Mtn was overleveraged. Debt kills as they say and when revenue growth can't keep up with debt service, solvency becomes an issue.

    For those in the Columbus metro you likely heard about The Limited filing for Ch. 11 for the same reason. Sales slumped and they couldn't make the debt payments. The one thing these stories have in common is overleverage. Likely could have stayed afloat without the excessive debt.

    Artificially low interest rates incentivize taking on debt. Saw this ten years ago in the housing sector. It is far from certain but look to over levered corporations as potentially leading the next leg down in the economy this time around.
     
    fishmeister and acklac7 like this.
  12. I meant I dont know how Field and Stream is doing in regards to supporting Dicks. My fault sorry..
     
  13. Probably why I get a 15% off offer or $20 off $100 offer every week from them.
     
  14. I would be surprised to hear if Dicks is struggling....They have a separate sporting goods revenue stream outside of hunting and fishing that covers all seasons and most sports for youth on up. Gander simply has a failed market strategy. Being an avid outdoorsman they rarely even come to mind when making any outdoor purchase big or small. They've made themselves irrelevant.
     
    9Left likes this.
  15. I picked up a bunch of lures and some fishing shirts (shirts were for my SIL) for 60-70% off their retail.

    Although the store was close to me I will not miss it due to their prices prior to the selloff.

    In 10 years all that we may have left in brick and mortar retail is Walmart.
     
    B Ron 11 and crappiedude like this.
  16. Saugeye Tom

    Saugeye Tom River Pilgrim & Sojourner

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    Tes he was went home 3 yrs ago give or take
     
  17. buckeyebowman

    buckeyebowman On the back 9 and loving it!

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    Not only does debt kill, inventory does as well. Gander spent a bazillion dollars expanding and modernizing their Niles store in the past year. The thing is about the size of a WalMart and has inventory galore! No doubt they took on debt in both areas.

    Actually, the WalMart in my area has a half decent fishing and hunting department. About 5 years ago they took guns out of the store and made the department smaller. Then, about a year ago, they reversed course. Brought the guns back and made the department larger.
     
  18. MassillonBuckeye

    MassillonBuckeye I jig therefore I am!

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    The one in Reynoldsburg went All guns and liquidated everything else. Then reversed course a year later....
     
  19. Flathead76

    Flathead76 Carp53.65

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    They did the same at the Toledo store. They were giving tackle away to get rid of it. Then they brought it all back a year latter.
     
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