It looks like popular outdoor/sporting goods retailer Gander Mountain is preparing for bankruptcy. According to a report from WXYZ it could happen as fast as next month.

Th reason for the bankruptcy and the rumors are because of debt by the retailer. Even though guns and accessory sales have been going up they have a lot of competition. Their biggest competitors are Bass Pro Shops and Cabela's which have opened more stores across the nation over the years.

Like Bass Pro Shop and Cabela's, Gander Mountain has increased its stores from 110 stores in 2012 to 162 currently. To read more about it, WXYZ has more.

Gander Mountain hasn't commented on it but it was first reported here.