And though Overton's, a seller of boats and equipment, seems like the small fish in this acquisition, with only two brick-and-mortar locations, Lemonis said that this is the market that's ripe for expansion that could include many future store-within-a-store models. "Same great people. Better rents and better product".
Lemonis also issued a statement on the company's website Monday to try to clarify confusion about the purchase of the company's assets in the more than 125 stores across the nation. Owner Marcus Lemonis has pledged to keep dozens of stores open.
His comments on Twitter indicate that Lemonis and his staff are negotiating rent with landlord at every store location. Lemonis himself listed 50 stores that will stay open on twitter. Long lines were at each of the four cash registers, and "Going Out of Business" signs were displayed throughout the store indicating an up to 30 percent discount on merchandise. "It's hard enough out there right now", Lemonis said.
In the Tennessee valley, there are Gander Mountain stores in Florence and Huntsville. The firm went through bankruptcy in the 1980s and in 1996, and filed again for in March, seeking protection from creditors while it reorganized its financial affairs.
Camping World was chosen as the winning bidder at a bankruptcy auction on April 28 for certain assets of the businesses, according to a news release. What we did not buy is the inventory that is in all of the stores. In other tweets, he explained that liquidators are selling off existing inventory as part of the bankruptcy proceeding and ownership transition.More news: EU, US hold 'robust' talks on possible airline laptop ban
All of the employees in the stores need to be helpful in making sure that they are able to recover their money. "My goal is to open at least 70". He said that he would only keep open the stores that can show a clear road to profitability. So you'll have to read through my stream to find that. The store plans to start fresh with its new operator, Camping World.
That was followed later in the week by a report that all stores would be closed, and a going-out-of-business sale was announced for all locations nationwide. And run a good business.
"I wish I could", he said. His company acquired the leases but not the inventory.
The gandermountain.com website now displays only a single page touting its liquidation sale. He did not mention the O'Fallon, Illinois, store or a store in Fenton, Missouri. Those will both continue to operate.
We believe the Gander Mountain brand and the Overton brand have a ton of value. Not the wrong stuff, just too much. He added that it didn't "necessarily understand how to operate in a low cost environment".