Gander Mountain files for Chapter 11 bankruptcy protection

St. Paul, Minnesota, March 10 – Gander Mountain, the St. Paul, Minnesota-based hunting, fishing, and outdoor gear company, filed for United States Bankruptcy protection this evening. The company intends to pursue a reorganization through the sale of substantially all of its assets. The company intends to seek a “stalking horse,” a procedure often followed in Chapter 11 filings in order to ensure a floor-level return on the value of the assets even if bidding occurs among suitors for the assets of the company.

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