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Martin Moylan

Gander Mountain, 'America's Firearms Supercenter,' files bankruptcy

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Gander Mountain boasts that it is "America's Firearms Supercenter," but on Friday the sporting goods retailer said it does not "have a sustainable path forward," given the impact of underperforming stores and "unproductive, excess inventory."

Gander Mountain said sales have suffered as more consumers buy products directly from its suppliers and from online retailers.

The St. Paul-based company has 162 stores in 26 states and focuses on hunting, camping, and fishing, in addition to guns.

Stores in Rogers, Mankato and Woodbury are among the 32 that will begin to shut down soon. But the doors will stay open at most locations while management undertakes a financial reorganization and pursues a deal to sell the business.

The company says it is in active discussions with a number of parties interested in purchasing the chain, and expects to auction the company off in late April. Completion of a sale is expected by May 15.