Sportsman’s Warehouse Considering Bid for Gander Mountain
The UT-chain, which we reported several weeks ago was a potential acquirer for Gander as a going concern, is considering a bid that would keep as much as 80% of the bankrupt chain open, according to a report in Bloomberg. Gander already has a liquidating bid from Hilco and Gordon Bros., but Gander had until today to find a going concern bid that would top the guarantee of 91% of the wholesale value of the merchandise in the stores, an estimated $390-430 million. The auction is scheduled for Apr. 27. If there is a going concern bid, the liquidators will ... Log in to view full article.