Read more: These major retailers are closing stores in 2017 According to pictures uploaded to social media, the markdowns are currently 70% to 80%, but there may not be much merchandise left for customers to choose from.
When it comes to liquidation sales in general, money expert Clark Howard says you must wait for the best deals.
Marcus Lemonis, chief executive officer of Camping World Holdings, which late last month bought Gander Mountain's brand, assets and rights to leases on 160 stores, said in a video posted Sunday on his Twitter account that his goal is to keep at least 70 Gander Mountain locations open.“I will not be picking stores that do not have a clear path to profitability," he said.
The merchandise in Gander Mountain's stores was sold in bankruptcy to a group of liquidators who late last week began liquidation sales and posted on Gander Mountain's website that the chain is closing.
It's not clear when the affected stores will close for good, but according to its web site gift cards will be accepted through May 18.
Several reports surfaced this weekend that Gander Mountain was liquidating all 160 locations and going out of business and closing all the stores.
Liquidation sales are underway at all the locations including the 57,600 square foot location near Parker Road and E-470 which just hosted a grand opening celebration in September.
In March 2017, Gander Mountain filed for voluntary Chapter 11 Bankruptcy and began working to restructure the company.
“Many times, once a retailer’s establishment is turned over to a liquidator, they will bring in merchandise that was never in that store to start with.” The key is to ignore the signs that say 50% off (or whatever “great discount” is displayed on the sign) and focus on the final price.
While the liquidating part is true, the reports of closing all stores was grossly inaccurate.
The new owner of Gander Mountain is Camping World who won the bankruptcy auction last week with a consortium that included Gordon Brothers Group LLC and Hilco Merchant Resources LLC.
Penney department store locations that will soon be closing forever.
July 31 is the last day to shop at nearly all of the stores that are shutting down, except for a few staying open until September.
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Lemonis has had a busy week of negotiations to improve cost structures at nearly 70 Gander Mountain locations so that the stores have reasonable rent agreements and clear path to profitability to remain open.