January 04, 2018
The bankrupt CA-based inner city store has asked the court to replace its existing DIP facility from State Bank, which has declared a default and is now charging 11.5% interest on the loan, with a new loan of $5 million that will come from Anjum Sheikh, brother of the store’s principal, Sheikh S. Ellahi, and then seek an additional $10 million in financing secured by a Malibu residence jointly owned by the brothers that they value at $30 million with just a $3.7 million mortgage on it.
Gander Outdoors will re-open 69 locations by the one-year anniversary after Camping World won the auction to purchase the assets of Gander Mountain in a bankruptcy auction, according to a release from the company.
Kevin Burnett, who played linebacker for the Cowboys, Chargers, Dolphins and Raiders over eight years in the NFL, suffered a severe concussion from a blow to the head in a game in Dec. 2013.
The outdoor specialty buying group will move its bi-annual show to the Denver Convention Center immediately preceding the Outdoor Retailer Show.