While it has been looking for a buyer and had a number of discussions with strategic and financial buyers, the chain does not have an offer on the table acceptable to it that would serve as the stalking horse bid for the prospective bankruptcy auction that seeks to sell the bulk of the chain as a going concern. Discussions are ongoing, Gander said in a bankruptcy deposition and it expects to identify a stalking horse bid shortly. One offer already put on the table was rejected by Gander.

Gander has had “substantial operating losses” for the last two years, the chain ... Log in to view full article.