Gander Mountain to file for bankruptcy

I just saw an article that had a statement from GM saying the rumors of bankruptcy and store closings are false

So we shall see what really hsppens

During November 2012, matter of fact it was Thanksgiving Day morning there was a Gander Mountain advertisement lying on the kitchen table I was paging through as I had coffee with my wife. I mentioned they had 1,000 round ammo cans of .223 Remington (Federal Manufacture) for $299 a can. She asked if that was good I said well not great but not bad either considering no freight. She suggested I get two or three. Keep in mind I never go out Black Friday or let alone Thanksgiving but figured why not? Hell if I can buy several thousand rounds (I wanted the brass too) with Kathy's blessing I will do it. So I made the 10 min drive and got there as they opened. I went ahead and bought three cans and used my Cabela's card at the register. The place was pretty quiet. This is the Gander Mountain located in Twinsberg, Ohio. Less than a month later came Sandy Hook, best ammo deal I ever got.
The times I have visited that store it was always quiet and I agree their pricing was high, really high. When I shop the Cabela's Gun Library they are generally open to reducing the price on a gun I may want, then apply any running discounts and Cabela's always gives an additional Veterans 5%. That always drew me more to Cabela's.

Ron

burk said:

It cost a fortune to maintain, rent, and supply a store in prime suburban market areas. I'm not sure any large Hunting Fishing story could survive on normal retail margins with the net and well run local stores to compete with.

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This is the reality for the future. That's why Amazon has taken over as the worlds largest retailer after only being in business a few years

redneck2 said:

This is the reality for the future. That's why Amazon has taken over as the worlds largest retailer after only being in business a few years

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While I agree, its unfortunate for local business owners. I normally like to buy from local sellers and LGS to support my community but its hard for them to compete with online stores even when their prices are competitive.

For big box stores like Gander or Bass Pro, I could care less. Although Academy has some pretty good prices so I hope they stay in business.

Seems odd that MC Sports is folding also. I know there are a few stores in MIchigan where I reside.
I have no idea how wide spread the name is in other states. Their ads say that they have 60% off on everything..... (except guns and ammo) I hafta' giggle at that gotcha! Least they could do is reduce prices to just above wholesale!

I hope this is not a sign that our numbers, shooting sportsmen, are dropping so much that the industry isn't supported any longer. All us old white guys dieing off and not being replaced.
I have debated antis who believe that they would eventually win by attrition.

lilguy said:

I hope this is not a sign that our numbers, shooting sportsmen, are dropping so much that the industry isn't supported any longer. All us old white guys dieing off and not being replaced.
I have debated antis who believe that they would eventually win by attrition.

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I think it is more of a sign that big box stores cannot compete to online retailers like they used to. Last thing I bought from Gander I ordered off of their website. With free shipping it was much easier to wait 9 days than pack up my son and drive 35 minutes. I see these places reorganizing and consolidating to fewer stores, the suppliment with mire online sales.

Also, I dont know if other states see this, but in addition to terrible prices Gander Mt in WI seems always to built in locations that are terribly inconvenient to visit.

I would hate to see Gander go under for nostalgia reasons. When I first started reloading in the early '60's Gander was the place to order equipment and components. My first shotgun loader was a MEC 400, ordered out of Ganders green catalog. Can't remember how much I paid for it but I loaded hundreds of 16 ga shells on it. Even then 16 ga shells were scarce and expensive.

This is interesting

A few weeks ago I posted that they said they said they weren't filing bankruptcy. Today I found this so clearly out wasn't true.

https://www.google.com/amp/www.twin...-stores-closing-says-it-needs-to-be-sold/amp/

Three in our metro area are closing. The one closest to me remodeled three years ago and has been disappointing ever since. I bought a split ring pliers from them for my fishing lures and it broke the first time I used it. They do not even sell used guns. Don't know what they do with them or if they even take any in on trade. The decently priced ammo is always gone. They have stopped carrying anything I want to buy and have turned into a place where half of the stuff is clothing, but not as good as Cabela's and their fishing equipment area is pitiful. That about sums it up.

Well our Gander here is stuffed full of guns. Whole back wall of 'em! All overpriced. Ammo over priced. Reloading components over priced.

Sooner or later Gander will either have to have a better selling model or it will go kaput.

Deaf

If only they'd spent more money on aquaria and taxidermy...

maxxhavoc said:

I'm not surprised. They are expensive on everything. With Cabela's, they usually have cheap primers so I go there for that, and may come out with more stuff.

Gander Mountain is expensive on powder, primers, ammo, guns, clothes, fishing...no reason to go there at all. Their sale prices are higher than PSA's regular prices.

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I agree there prices are through the roof. Guns are cheaper almost anywhere else by huge percentages .

Deaf Smith said:

Well our Gander here is stuffed full of guns. Whole back wall of 'em! All overpriced. Ammo over priced. Reloading components over priced.

Sooner or later Gander will either have to have a better selling model or it will go kaput.

Deaf

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I agree . I think alot of big chain overpriced stores rely on all the Suckers out there that are ignorant of pricing. Sometimes the only reason you may buy a gun from them is only because you cant find it in stock at a cheaper store.

Hokie_PhD said:

I just saw an article that had a statement from GM saying the rumors of bankruptcy and store closings are false

So we shall see what really hsppens

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Article in today's paper said they were closing the local store due to the bankruptcy.

Long time ago where I worked (programmer for a hospital) a Dr. wanted a Browning .22 semi-auto rifle. He was thinking of getting one a local gun shop that was very expensive.

I told him, "I saw some at Wal-Mart recently", they did, made in Belgium to!

He looked at me and said, "But are they any good?"

Yes same gun made by same company but just priced higher at the fancy stores but the Dr. just could not believe one could get the same thing cheaper at a big discount store.

Deaf

Thanks for the article, Hokie. It confirmed that my closest GM is going under. It's located less than 5 miles from a BPS, about 45 miles from a Cabela's and surrounded by numerous Academies. They were pretty much DOA.

You'd think a company that gained their initial success from mail order back in the digital "dark ages" could readily adapt the same mentality into a successful cyber venture.

jaytex1969 said:

You'd think a company that gained their initial success from mail order back in the digital "dark ages" could readily adapt the same mentality into a successful cyber venture.

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You'd think so but using the same logic Sears was the granddaddy of online with their catalogs. You'd think if anyone would know how to sell via the web it would be one of the first companies to sell via mail. But changes of management, getting stuck into models that don't work, etc just show it's not what you did last year or 100 years ago but now.

It's ironic that I mention Sears as them being taken over by K Mart was the beginning of their death spiral. Where Sears did a bunch of things sell the only thing K Marft seems to do well is he horrible at everything. Gander seems to be folllwing this model. They're not doing anything well and you can't compete if you do not have at least one or two niches that separate you from your competitors

Deaf Smith said:

I told him, "I saw some at Wal-Mart recently", they did, made in Belgium to!

He looked at me and said, "But are they any good?"

Yes same gun made by same company but just priced higher at the fancy stores but the Dr. just could not believe one could get the same thing cheaper at a big discount store.

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That's not entirely baseless.

Many products sold at Walmart are demonstrably not the same as "identical make/model" products sold elsewhere. There are scientific papers on why, but it boils down to combination of their size (big enough to justify redesigning a product just for them to sell) and focus (entirely on price) pushing manufacturers to cut unit costs without regard for longevity or performance.

I'm not saying that's the case with this rifle, but when you don't know how to recognize quality in a particular product category it is entirely reasonable to avoid buying from a retailer that is known for selling inferior versions of standard products. The Dr. in your story likely recognized his own inexperience and didn't want to end up buying a cut-corner special that a gun-savvy person would have recognized and either avoided or at least bought with open eyes.

Hokie_PhD said:

I just saw an article that had a statement from GM saying the rumors of bankruptcy and store closings are false

So we shall see what really hsppens

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Please don't call them GM, the taxpayers might get stuck throwing a 45 billion dollar bailout to them.

drunkenpoacher said:

Please don't call them GM, the taxpayers might get stuck throwing a 45 billion dollar bailout to them.

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I think we're ok that was the last admin. Politics aside I'm pretty sure this one knows the difference.

Guy is walking down the street in a big city. Sees a kid holding a cup full of pencils with a "For Sale" sign.

So, he wants to help he kid. Asks "how much for a pencil?" Kid replies "$10,000"

guy says "wow.....you're not gonna sell many at that price"

Kid replies "I don't have have to sell many. Only have to sell one"

Hokie_PhD said:

I think we're ok that was the last admin. Politics aside I'm pretty sure this one knows the difference.

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nope that was bush that started the bailout . you know the same bush that voted for obama

drunkenpoacher said:

Please don't call them GM, the taxpayers might get stuck throwing a 45 billion dollar bailout to them.

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Hokie_PhD said:

I think we're ok that was the last admin. Politics aside I'm pretty sure this one knows the difference.

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Bankruptcy 1: The Trump Taj Mahal, 1991

The first bankruptcy associated with Trump was perhaps the most significant in terms of his personal finances, according to news reports at the time. He funded the construction of the $1 billion Trump Taj Mahal casino in Atlantic City, which opened in 1990. By 1991, the casino was nearly $3 billion in debt, while Trump had racked up nearly $900 million in personal liabilities, so the business decided to file for Chapter 11 reorganization, according to the New York Times. As a result, Trump gave up half his personal stake in the casino and sold his yacht and airline, according to the Washington Post.

Bankruptcy 2: Trump Plaza Hotel, 1992

Trump acquired the Plaza Hotel in New York for $390 million in 1988. By 1992, the hotel had accumulated $550 million in debt. As a result of the bankruptcy, in exchange for easier terms on which to pay off the debts, Trump relinquished a 49 percent stake in the Plaza to a total of six lenders, according to ABC News. Trump remained the hotel’s CEO, but it was merely a gesture -- he didn’t earn a salary and had no say in the hotel’s day-to-day operations, according to the New York Times.

Bankruptcy 3: Trump Hotels and Casinos Resorts, 2004

Trump Hotels and Casinos Resorts filed for bankruptcy again in 2004 when his casinos -- including the Trump Taj Mahal, Trump Marina and Trump Plaza casinos in Atlantic City and a riverboat casino in Indiana -- had accrued an estimated $1.8 billion in debt, according to the Associated Press. Trump agreed to reduce his share in the company from 47 to 27 percent in a restructuring plan, but he was still the company’s largest single shareholder and remained in charge of its operations. Trump told the Associated Press at the time that the company represented less than 1 percent of his net worth.

Bankruptcy 4: Trump Entertainment Resorts, 2009

Trump Entertainment Resorts -- formerly Trump Hotels and Casinos Resorts -- was hit hard by the 2008 economic recession and missed a $53.1 million bond interest payment in December 2008, according to ABC News. After debating with the company’s board of directors, Trump resigned as the company’s chairman and had his corporate stake in the company reduced to 10 percent. The company continued to use Trump’s name in licensing.

So we have proof that at least the president is pretty well versed in bankruptcy. So what? What does that have to do with the business problems of Gander Mountain?