Gander Mountain announced Friday that it has filed for Chapter 11 bankruptcy protection.
The hunting and outdoor recreation company announced it will close 32 stores, including 10 of 22 in Texas, over the next few weeks.
The company plans to have normal business hours during the restructuring process.
No word on when the Augusta location will close or how local employees will be affected.
Gander Mountain faced financial trouble after an aggressive expansion across the United States for a total of about 160 stores, with almost 60 new outposts opened or announced since 2012.
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In Wisconsin, the Germantown and Eau Claire stores will be closed.
The company is in discussions with multiple parties interested in its sale and expects to ask for bids prior to an auction in April.
The company says they have 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. It anticipates it will send the winning bid to U.S. Bankruptcy Court in early May and hopes to close a sale by May 15.
Friday's bankruptcy announcement wasn't the first for Gander Mountain. Employee pay will continue to arrive on time and in full, employee benefits will remain in place, retirement accounts are intact and protected. Three Gander Mountain stores in Minnesota will be closing - Woodbury, Rogers and Mankato.