Gordmans, Gander Mountain File For Bankruptcy

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(Image courtesy of Gander Mountain) (Image courtesy of Gander Mountain)

Two more national retailers with multiple locations in Indiana have filed for Chapter 11 bankruptcy protection. Nebraska-based Gordmans Stores Inc. (Nasdaq: GMAN) has a total eight Indiana locations and Minnesota-based Gander Mountain has nine.

Gordmans says it will be business "as usual" through reorganization. In a news release, Chief Executive Officer Andy Hall says "the management team and all of our associates remain committed to continuing to provide great merchandise and service to our guests during this process." It has hired Tiger Capital Group LLC and Great American Group LLC to handle the sale of Gordmans retail and distribution location inventory. The company has shops in Avon, Evansville, Clarksville, Lafayette, Fort Wayne, Mishawaka, Valparaiso and Schererville.

Gordmans also has a distribution center in the town of Clayton in Hendricks County. In a notice to the state, Gordman's says 139 employees at the distribution center will be out of work, beginning May 12.

Gander Mountain says it plans to close stores in Greenfield and at the Southlake Mall in Merrillville as part of a group of 32 "underperfoming" bricks-and-mortar stores that will be closed. Existing locations in Fort Wayne, Lafayette, Terre Haute, Greenwood, Indianapolis, Avon and Evansville are slated to stay open pending re-emergence from bankruptcy protection.

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