Gander Mountain Bankrupcy?

[walleyepw]

Gander Mountain, a ok place to go and gander at stuff. Way to over priced.

 

[Spyco]

Every new gun there is listed at MSRP. Who the hell buys at MSRP? If they had any good deals, it was like once in a blue moon that something good appeared in the used section. No surprises on them having trouble.

 

[SEIndSAM]

As mentioned before, I am surprised they have lasted this long. I also wonder if they overbought thinking a Hillary election would be good for business and are now setting on way too much inventory?

 

[DaveM]

Every new gun there is listed at MSRP. Who the hell buys at MSRP? If they had any good deals, it was like once in a blue moon that something good appeared in the used section. No surprises on them having trouble.

I see people at Bass Pro buy guns at MSRP all the time. Heck, you can't even get any guns there below MSRP. I think the days of big box gun selling is coming to an end. Sporting goods stores themselves are going the way every other business is. Everybody is buying each other out and options dry up.

 

[Chase515]

I stopped in Gander Mountain today and bought a magpul ms4 sling and a magpul qd plate. Also picked up a glaco high ride leather holster. I know how to shop box stores and only buying stuff on sale is the way to go. They have been pushing the gander mountain credit card pretty hard on customers, I screwed up and got talked into one thinking it was a rewards card not a credit card. I cut it up upon receiving it and pay cash on my purchases.

 

[medcoxo]

just went to the one in Avon, and they have cci standard for 3.99, and mini mags at 6.99. Also have the 'shoot em' stuff. they got plenty too.

 

[Lees]

Last thing I bought there was a cheap bucket of .22 on a Black Friday special...like two years ago. Surprised they have stayed in business this long.

 

[nhgluff]

You gotta be there at the right time to get deals
last friday
I bought
10/22
ruger 22/45 lite
ruger mkii target
sig 226 west german
$1050 out the door
They focus too much on new and under price used guns which is where the money is in guns like cars

 

[Xrage]

Firearms represent a huge percentage of their inventory yet i have never seen them offer a competitive price for any gun i was shopping around for.
Other people are saying the same thing, it doesn't seem that hard to figure out why their sales are suffering.

 

[Indynic]

Every new gun there is listed at MSRP. Who the hell buys at MSRP? If they had any good deals, it was like once in a blue moon that something good appeared in the used section. No surprises on them having trouble.

S&W revolvers were all priced OVER MSRP the last time I stopped by there....

 

[Libertarian01]

I think it is Bass Pro Shop and not Gander that was merging/buying Cabelas. As to Gander, it's not surprising between their ridiculous prices across the board and the relatively uneducated sales people that they have lasted this long.

Doug was WRONG! I misread the article and have been set straight. Mea culpa.

Given that shift in information some of my theories would still hold water but others would not.

I just tried to look up their financials and it appears that they took themselves off of the NASDAQ back in 2009 - 2010, so limited public data.

Oh well...

Regards,

Doug

 

[oldpink]

The only major purchase I've ever made from GM was five years ago, when I bought my Remington 870 Express, for (if memory serves) $320, which isn't the best deal available, but not totally out of line.
They were one of three online sellers from whom I bought most of my reloading equipment back in the 1980s, with the other three being Midsouth Shooters Supply, Midway, and Natchez.

 

[whiskeytangofoxtrot]

Good.

 

[ckyoursix]

You have to be know your price points. Thru the years I have bought firearms from GM when they have one or two day specials. I knew that the prices for what I was buying were good, and I could not beat the price. But as for any accessories they are over priced.

 

[1775usmarine]

I got my S&W 5946 police trade in last month from Gander for $369. It is in great shape for a 4yr old 3rd Gen. Cabelas was selling the same for $700. Other than that it was dead inside for a Friday.

 

[rhino]

I received a Gander Mountain gift card three years ago, but I could never think of anything I wanted from Gander that I couldn't get elsewhere under preferable circumstances across the board, even considering the gift card. After this news, I decided to use it last in the event another concern is tasked with liquidating the in-store merchandise (as happened with Sportsman's Warehouse in Lafayette) who might not honor the card. I was shocked by the prices.

 

[K_W]

I bet the ATF can't wait to get ahold of those millions of 4473's if they go under.

 

[308jake]

You gotta be there at the right time to get deals
last friday
I bought
10/22
ruger 22/45 lite
ruger mkii target
sig 226 west german
$1050 out the door
They focus too much on new and under price used guns which is where the money is in guns like cars

Which store? New or used?

 

[M67]

I bet the ATF can't wait to get ahold of those millions of 4473's if they go under.

Since there's so much extra room at the National Tracing Center

 

[patience0830]

I don't know why they mentioned the revolving credit loan. That is very standard for any large business to have.

Large businesses cannot guarantee that they will have the cash on hand available to make payroll, utilities, repairs, rent, property tax, etc etc etc every single day. So they get any extremely large revolving credit line on which they pay a very low interest rate. They may borrow $150,000,000 every day and pay it back with a 1/4 percent interest rate in two (2) or three (3) days. This saves(?) them from tying up several hundred million dollars in cash on their own.

I'm not saying the story in inaccurate, just "so what?" regarding the revolving credit issue. The article doesn't give the more relevant information such as their total debt and revenues.

This linked article Report: another outdoors retailer on brink of bankruptcy - NewsTimes does point out that Gander Mountain is currently in the process of trying a $5.5 billion dollar acquisition of Cabela's. Mayhaps they have overstretched themselves a tad? Or perhaps they are looking to time their "bankruptcy" with the Cabela's acquisition in order to avoid certain liabilities that may come with such an acquisition, such as a retirement program or heavy debt on Cabela's slde...? Yes, I am a bit cynical that way.

Regards,

Doug

I thought BassPro was buying Cabelas?

Sorry. Posted b4 I read the whole thing.