Gander Mountain preparing for bankruptcy filing

Bass Pro Shops and Cabela's rival Gander Mountain Co. is preparing to file for bankruptcy as early as this month, sources familiar with the matter told Reuters.

The 160-store hunting and fishing chain has faced challenges in the gun market despite billing itself as America's firearms superstore.

Reuters also cited competition from Bass Pro and Cabela's. The Springfield company last year agreed to buy Cabela's for $5.5 billion. However, the deal still has antitrust hurdles to close.

Read more from Reuters.

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