Gander Mountain, the Saint Paul-based outdoor store chain, is nearing bankruptcy, according to Reuters.
No specifics have been confirmed. Company spokesman Jess Myers said Saturday that the company had no statement to offer. “They’ve taken a vow of silence,” he said.
The privately held company is owned by David Pratt and the Erickson family, which also owns Holiday Station stores. Jay Tibbets has been president since November, when Derek Siddons left the company. Siddons, who started with Gander Mountain as a store manager in 2009, had a prodigious rise to the executive team, being appointed president in 2015. Siddons said Saturday that he did not want to comment on the rumored bankruptcy.