ALGONQUIN – The Algonquin Gander Mountain is among 32 stores that the outdoor retailer plans to close after filing for bankruptcy last week.
The St. Paul, Minnesota-based company believes it has some profitable stores it can sell, and in the meantime, it will close underperforming or unprofitable stores, according to bankruptcy court records. Other Illinois stores slated for closure include Springfield and Champaign, according to the filing.
“Despite aggressive actions to improve the efficiency of the company’s retail operations and support functions, the underlying financial impact from underperforming stores and unproductive, excess inventory hampered efforts to create a sustainable path forward,” the company said in a news release.
Gander Mountain has about 160 stores in 27 states throughout the country, according to the filing. It also has two e-commerce sites and a catalog business.
Closing sales for the stores are expected to start Friday, court records show.
The 52,000-square-foot store at 1400 S. Randall Road, Algonquin, opened in 2014. The store sells new and used firearms and fitness wear, along with gear and accessories for hunting, fishing, camping, boating and archery.