LAFAYETTE, Ind. (WLFI) — Two major retailers have filed for Chapter 11 bankruptcy, and both have stores right here in Lafayette in the same shopping center.
Gander Mountain and Gordmans recently announced plans to file for Chapter 11 bankruptcy. Both retailers have stores located in the Lafayette Pavillions, located at the intersection of South Street and Creasy Lane.
In a statement, outdoor retailer Gander Mountain attributed their decision to “challenging traffic patterns” and “shifts in consumer demand.” Officials said the best option is to sell the company.
Gander Mountain will close down 32 underperforming locations beginning in the next few weeks. In Indiana, they have plans to close the doors of its Greenfield and Merrillville stores.
Just days after Gander’s announcement, apparel and home decor retailer Gordmans also filed for Chapter 11. The company has entered into an agreement for plans to liquidate the inventory and other assets of retail stores and distribution centers. This is pending approval of the Bankruptcy Court.
Both retailers say the move is part of a restructuring process.
At this time, both say it will be business as usual for shoppers.
We’ll explain how the recent announcements could have a local impact on jobs and the economy, coming up on News 18 at Five and Six and later on WLFI.com.