SHERMAN, Texas (KXII) -- One local outdoor store is going out of business and their inventory liquidation sale began today.
Gander Mountain filed for Chapter 11 bankruptcy protection on March 10th.
Friday, they announced that all 126 locations nationwide would be closing.
"I was driving down the road and I saw that somebody was holding a sign."
Jana Wild says the news comes as a surprise.
Now that the store's closing she'll have to shop elsewhere.
"Probably at Academy some or online."
Their website states another company, named Camping World, bought them out this month and will be taking over.
Marcus Lemonis, the CEO of that company said in an email that he hasn't decided on the future of the Sherman location and that he was still negotiating the rent.
Sherman Economic Development Corporation President, John Plotnik, says with competition from other stores like academy or walmart...gander mountain never cornered the market.
And some customers say they weren't surprised.
"I knew for a while that it was closing. I saw many advertisements outside saying half and 50% off."
It is unclear if there are any plans to convert Gander Mountain stores into Camping World locations.
It that does happen, we're told current employees will have the opportunity to interview for jobs with Camping World.
Plotnik says other businesses have expressed interest in what they call "a prime location".