Gander Mountain plans to close Algonquin store
The Gander Mountain store in Algonquin is one of 32 underperforming locations expected to close after the company filed for bankruptcy last week.
The Minnesota-based company plans to sell the business on a going-concern basis, citing challenging traffic patterns, shifts in consumer demand and accelerated growth of online sales, representatives said in a news release. As part of its reorganization process, the unprofitable retail locations are expected to begin shutting down in the next several weeks while the company searches for a buyer, court records show.
The Algonquin store, which opened in 2014 at 1400 S. Randall Road, is one of three locations expected to close in Illinois, according to court records. Stores in Champaign and Springfield are also being shut down.
Gander Mountain, which sells outdoor gear and equipment, has about 160 stores in 27 states nationwide.
The company plans to solicit bids before an auction, which will be held in late April, and representatives anticipate a sale will be final by mid-May.