Gander Mountain files for bankruptcy, Winchester location to remain open
Gander Mountain in Frederick County and the JCPenney store at the Apple Blossom Mall in Winchester will not be among those stores being closed by the two retailers nationwide.
Outdoor gear retailer Gander Mountain has filed for Chapter 11 bankruptcy and will be closing 32 “underperforming” stores nationwide. The Winchester location will remain open, said Jess Myers, who serves as Gander Mountain’s director of media and public relations.
According to a news release from Gander Mountain, the bankruptcy was the result of “an in-depth review of the company’s strategic options undertaken in recent months to preserve the value of the company and position it for long-term success.”
That review resulted in the following conclusions, according to the release: “A narrowly focused and lower cost operating model is necessary to position the company for profitable growth; the company does not have the financial capacity or time to reset its operations to fully implement the new model and, as a result; the best available path forward is to sell the company on a going-concern basis.”
The process of shutting down the 32 stores will begin over the next several weeks, the release stated.
JC Penney also recently announced the closure of 138 stores nationwide. The Apple Blossom Mall location in Winchester will not be among them, according to a release from the company. One supply chain facility in Florida will be shuttering its doors, with another moving in order to “align the company’s physical store footprint and omnichannel network,” the release stated.
Roughly 5,000 jobs will be affected by these closures as well, the release stated. Most affected stores will begin the process of liquidating April 17.