Gander Mountain Chapter 11 plan OK’d by majority of voting creditors

By Caroline Salls

Pittsburgh, Jan. 24 – Gander Mountain Co.’s Chapter 11 plan was accepted by a majority of voting creditors, according to a ballot report filed with the U.S. Bankruptcy Court for the District of Minnesota.

A total of 3,789 holders, or 91.74% in number, of $191,516, or 92.07% in amount, of convenience class claims voted to accept the plan, while 341 holders, or 8.26% in number, of $16,498, or 7.93% in amount, of those claims voted to reject it.

In addition, 780 holders, or 82.54% in number, of $77.72 million, or 93.32% in amount, of general unsecured claims voted to accept the plan, while 165 holders, or 17.46% in number, of $5.56 million, or 6.68% in amount, of those claims voted to reject it.

The plan confirmation hearing is scheduled for Jan. 25.

Gander Mountain is a St. Paul, Minn.-based retail network of stores for hunting, fishing, boating, camping, marine and outdoor lifestyle products and services. The company filed for bankruptcy on March 10, 2017 under Chapter 11 case number 17-30673.

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