ST. PAUL, MN— Outdoor big box chain Gander Mountain, which filed for bankruptcy last month, has been purchased at auction by Camping World.
Camping World, which operates more than 120 R.V. superstores across the U.S., is set to pay $390 million for Gander Mountain and Overton’s, according to Reuters.
“The value of the winning bid was about $390 million, according to people familiar with the matter who requested anonymity to discuss the details of the auction results. The Camping World-led group bested a going-concern bid for Gander Mountain from rival Sportsman’s Warehouse Holdings Inc., the sources said.
Camping World, which is run by Marcus Lemonis, a star on CNBC TV’s reality show “The Profit,” plans to operate at least 17 Gander Mountain stores as a going concern, the sources said. An auction for Gander Mountain’s remaining more than 100 leases will be held later, the sources said.”
Read the full report from Reuters, here.