(RNN) - Gander Mountain will close 32 stores and has filed for Chapter 11 bankruptcy, it announced Friday.
"Like many retailers, Gander Mountain experienced challenging traffic patterns and shifts in consumer demand resulting from increased direct-to-customer sales by key vendors and accelerated growth of e-commerce," the company said in a statement.
"Despite aggressive actions to improve the efficiency of the company's retail operations and support functions, the underlying financial impact from underperforming stores and unproductive, excess inventory hampered efforts to create a sustainable path forward," it added.
The following 32 stores will begin closing procedures in the next several weeks, according to media reports.
The company didn't disclose how many employees would be affected by the closures.
The outdoor-goods retailer said it is in discussions with some parties interested in purchasing it "and expects to solicit bids prior to an auction to be held in late April 2017," with an expected sale closing date of May 15.
"The filing is an important step in our restructuring, but our highest priority is to make it a non-event for you," said Jay Tibbets, Gander Mountain president, in a letter to customers posted on Facebook.
The St. Paul, MN,-based retailer has stores across 26 states and employs 7,000.
It is one of three retail stores announcing bankruptcy in the past week, with RadioShack filing last week and discount retailer Gordmans filing Monday.
General Wireless, the company that owns RadioShack, announced it was filing for Chapter 11 bankruptcy and is in the process of closing nearly 200 stores. It is the troubled retailer's second bankruptcy in two years.
“For nearly 100 years, RadioShack has proudly served local communities across the United States, offering consumers unique, high-quality products at a great value,” said Dene Rogers, RadioShack's president and CEO.
The company said the "surprisingly poor performance of mobility sales" pushed it into another bankruptcy.
RadioShack has a FAQ page for customers concerned about the closures. For instance, if you have a holiday gift card, you need to use it.
The closures will leave RadioShack with about 1,300 stores.
"Until further notice, all Gordmans stores are operating as usual without interruption," said Andy Hall, president and chief executive officer of Gordmans. "The management team and all of our associates remain committed to continuing to provide great merchandise and service to our guests during this process."
Retailers have announced closures in the past month, in part citing pressures from e-commerce or a need to realign themselves to better compete with e-commerce vendors.
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