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#31
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Sad News: Galyans sold off to...
"NOYB" wrote in :
I think Gander Mountain is owned by Cabela's now. I'm pretty sure Gander is not owned by Cabela's. I think Cabela's bought Gander's mailing list back when Gander was a catalog shop, but not the company. Scott |
#32
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Sad News: Galyans sold off to...
"NOYB" wrote in :
I think Gander Mountain is owned by Cabela's now. I'm pretty sure Gander is not owned by Cabela's. I think Cabela's bought Gander's mailing list back when Gander was a catalog shop, but not the company. Scott |
#33
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Sad News: Galyans sold off to...
"Lee D" wrote in message ... "NOYB" wrote http://www.icsc.org/srch/sct/current/page138.html In 1996 it was a public company with about 20 stores and a catalog operation. But running both the retail and catalog outlets proved to be too much, as did the pressure of opening new stores at a rate to satisfy investors, said Todd Rymer, the director of real estate, who has been with the company for 14 years. The chain filed for bankruptcy in 1997. "Everything that you can think of probably contributed to the financial troubles," Rymer said. Gander Mountain's management sold the catalog operation to Sidney, Neb.-based competitor Cabela's in 1996 for about $35 million in cash (see story). Holiday Cos., a Bloomington, Minn.-based operator of convenience stores, bought five of the Gander stores that year and the remainder over the next year or so when Gander filed for bankruptcy. Better things happened to the chain shortly thereafter. Stephen Watson, former president of Minneapolis-based Dayton Hudson Corp. (now Target Corp.), came on board in 1997 as CEO. From the looks of all the ammended fillings with the SEC that they had between 1994 and 1996 ( www.sec.gov ), it looks like they were in trouble for a while. It kind of looks as if they were trying to hide their problems, but kept getting caught in their annual audits. I read a little of one of their filings - they sure knew how to make it seem like they were doing great... even right up to the bankruptcy. Sounds like the right attorney could make a solid case against them. They were cooking the books before cooking the books even became popular. I'm sure the bankruptcy settlement protects them from the lawsuits however. That stinks. Gander Mountain is now trading at a little over $13 a share and was right at twice that about 6 months ago. What can I say? I was a man ahead my time. ;-) |
#34
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Sad News: Galyans sold off to...
"Lee D" wrote in message ... "NOYB" wrote http://www.icsc.org/srch/sct/current/page138.html In 1996 it was a public company with about 20 stores and a catalog operation. But running both the retail and catalog outlets proved to be too much, as did the pressure of opening new stores at a rate to satisfy investors, said Todd Rymer, the director of real estate, who has been with the company for 14 years. The chain filed for bankruptcy in 1997. "Everything that you can think of probably contributed to the financial troubles," Rymer said. Gander Mountain's management sold the catalog operation to Sidney, Neb.-based competitor Cabela's in 1996 for about $35 million in cash (see story). Holiday Cos., a Bloomington, Minn.-based operator of convenience stores, bought five of the Gander stores that year and the remainder over the next year or so when Gander filed for bankruptcy. Better things happened to the chain shortly thereafter. Stephen Watson, former president of Minneapolis-based Dayton Hudson Corp. (now Target Corp.), came on board in 1997 as CEO. From the looks of all the ammended fillings with the SEC that they had between 1994 and 1996 ( www.sec.gov ), it looks like they were in trouble for a while. It kind of looks as if they were trying to hide their problems, but kept getting caught in their annual audits. I read a little of one of their filings - they sure knew how to make it seem like they were doing great... even right up to the bankruptcy. Sounds like the right attorney could make a solid case against them. They were cooking the books before cooking the books even became popular. I'm sure the bankruptcy settlement protects them from the lawsuits however. That stinks. Gander Mountain is now trading at a little over $13 a share and was right at twice that about 6 months ago. What can I say? I was a man ahead my time. ;-) |
#35
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Sad News: Galyans sold off to...
"Scott Seidman" wrote in message . 1.4... "NOYB" wrote in : I think Gander Mountain is owned by Cabela's now. I'm pretty sure Gander is not owned by Cabela's. I think Cabela's bought Gander's mailing list back when Gander was a catalog shop, but not the company. Cabela's bought the catalog operations for $35 million. |
#36
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Sad News: Galyans sold off to...
"Scott Seidman" wrote in message . 1.4... "NOYB" wrote in : I think Gander Mountain is owned by Cabela's now. I'm pretty sure Gander is not owned by Cabela's. I think Cabela's bought Gander's mailing list back when Gander was a catalog shop, but not the company. Cabela's bought the catalog operations for $35 million. |
#37
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Sad News: Galyans sold off to...
Scott Seidman wrote:
"NOYB" wrote in : I think Gander Mountain is owned by Cabela's now. I'm pretty sure Gander is not owned by Cabela's. I think Cabela's bought Gander's mailing list back when Gander was a catalog shop, but not the company. Scott Hmmm. Never run into an operation called Gander Mountain. |
#38
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Sad News: Galyans sold off to...
Scott Seidman wrote:
"NOYB" wrote in : I think Gander Mountain is owned by Cabela's now. I'm pretty sure Gander is not owned by Cabela's. I think Cabela's bought Gander's mailing list back when Gander was a catalog shop, but not the company. Scott Hmmm. Never run into an operation called Gander Mountain. |
#39
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Sad News: Galyans sold off to...
"NOYB" wrote in
k.net: "Scott Seidman" wrote in message . 1.4... "NOYB" wrote in : I think Gander Mountain is owned by Cabela's now. I'm pretty sure Gander is not owned by Cabela's. I think Cabela's bought Gander's mailing list back when Gander was a catalog shop, but not the company. Cabela's bought the catalog operations for $35 million. That's definately more accurate than what I've posted. Somehow, though, Gander ressurected as a brick-and-mortar operation, and the stores we walk into have no affiliation with Cabela's. Scott |
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