Camping World Holdings To Operate Gander Outdoors And Overton's Stores After Gander Mountain Bankruptcy

By Tonya Garcia Markets MarketWatch Pulse

Camping World Holdings Inc. said Friday that it will operate nearly 60 Gander Outdoors and Overton's brand locations that it acquired earlier this year from Gander Mountain, which filed for bankruptcy in March. At that time, Gander Mountain put its 160 stores up for sale. Camping World Inc., a subsidiary of Camping World Holdings, alongside a group of firms, bought the company's assets for about $400 million, The Wall Street Journal reported. Camping World chairman Marcus Lemonis said at the time that the company would keep as many of its stores as possible. The company's original goal was to hang on to 70 stores, Lemonis said in the Friday release, but decided to keep 57 that demonstrated they "have a clear path to profitability." The stores span across states including Wisconsin, New York, Texas, Michigan and Florida. Camping World expects to announced additional locations after it decides which stores to expand. Camping World shares are unchanged in Friday trading, but down 5.6% for the year so far. The S&P 500 index is up 8.1% for 2017 to date.

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