March 11 (UPI) -- Outdoor retailer Gander Mountain filed for bankruptcy protection Friday and announced the closure of 32 stores nationwide as the company prepares for a quick sale by mid May, the company announced.
The privately held, Minnesota-based retailer said the Chapter 11 protection will also for the sale "on an expedited basis while protecting the interests of our customers, employees and other stakeholders." The company said it is in active discussions with several parties and anticipates closing a sale by May 15.