Camping World to reopen 57 Gander Mountain stores
LINCOLNSHIRE -- Camping World Holdings said Friday it will reopen 57 Gander Mountain and Overton stores it acquired in a bankruptcy auction earlier this year.
Only one Illinois store -- in the St. Louis suburb of O'Fallon -- is among the stores to reopen.
The national RV dealership chain acquired Gander Mountain's assets in a bankruptcy auction last May. At the time, Camping World Chairman Marcus Lemonis said one of the company's goals was to reopen around 70 stores subject to, among other things, the ability to negotiate acceptable lease terms with landlords.
"While our initial list is now less than 70, we are not willing to open stores which we do not believe have a clear path to profitability," Lemonis said in a statement.
"We are currently pursuing other locations for expansion and expect to announce additional locations and markets in the near term with all of our Gander Outdoors, Overton's and Camping World offerings," he added.
Camping World's acquired Gander Mountain for $15.6 million, plus $22.15 million for other assets, in a U.S. bankruptcy auction after the Minnesota-based outdoor sporting retailer filed for Chapter 11 bankruptcy in early March and closed 32 of its 162 stores, including locations in Algonquin and Geneva.
About Camping World Holdings, Inc.