After months of various reports and some speculation, Camping World Holdings Inc. has won the bankruptcy auction for Gander Mountain. The winning bid was $390 million. This bid was more than the going-concern bid from Sportsman’s Warehouse. The auction results require final approval from a U.S. bankruptcy court judge.
Camping World plans to operate at least 17 Gander Mountain stores as a going concern. An auction for Gander Mountain’s remaining 100-plus leases will be held on a later date. There was no word on how this will affect individual stores.
Camping World also receives all of Gander Mountain’s intellectual property and its Overton’s boating business.