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Gander Mountain Co., the bankrupt retailer of hunting and fishing gear, has attracted buyer interest that could keep most of its stores open after the company restructures its debt, Bloomberg News reported. Sportsman’s Warehouse Holdings Inc. is planning to bid for as many as 80 percent of Gander Mountain’s stores. Sportsman’s Warehouse is still deciding whether it would keep the Gander Mountain name on those locations or run them under its own brand. Midvale, Utah-based Sportsman’s Warehouse has almost 80 stores in 22 states, mostly in the western U.S., with some in the mid-Atlantic region. St. Paul, Minnesota-based Gander Mountain’s locations, more than 160 in 27 states, are concentrated in the east. Sportsman’s Warehouse has about $200 million in debt and its revenue has been rising in recent years, according to data compiled by Bloomberg.

The U.S. Supreme Court cleared the way for General Motors Co. to potentially face billions of dollars in legal claims over a deadly ignition-switch defect, turning away the carmaker’s appeal in a clash connected to its 2009 bankruptcy sale, Bloomberg News reported yesterday. The justices, without comment, left intact a federal appeals court ruling that said the bankruptcy accord didn’t block GM from lawsuits over accidents that happened before the sale or claims that the flaw caused vehicles to lose value. Plaintiffs’ lawyers have estimated that claims against the company may total as much as $10 billion. The Supreme Court’s action is a setback for GM Chief Executive Officer Mary Barra, whose first year in the job was consumed by the ignition flaw linked to at least 124 deaths and recalls of 2.59 million vehicles. The Supreme Court’s decision creates a small risk that GM will have to reach a legal settlement that could interfere with paying out its dividend or buying back stock, said David Whiston, a Morningstar Inc. analyst.

High-flying Alliance Health of South Jordan has filed for bankruptcy in the aftermath of a raid by federal agents seeking evidence of possible fraud related to the sale of products to government health plans, the Salt Lake Tribune reported on Saturday. CEO Jeffrey Smith resigned April 14 after the bankruptcy filing in Texas earlier this month, company spokesman Brian Watkins said in an email, which noted its board of directors was now overseeing operations as it seeks to reorganize and emerge from bankruptcy. The filing came after Zions Bank closed the company's line of credit in the wake of the Feb. 23 federal raid, said bankruptcy attorney Elizabeth Green. The U.S. attorney's office for Utah declined to comment on the investigation. But a previous search warrant application filed in federal court said the case involves "a scheme to defraud health care benefit programs, resulting in payments for mail-order diabetic test strips under false and fraudulent pretenses."

A federal bankruptcy judge has approved Republic Airways Holdings Inc.’s plan of reorganization, clearing the way for the company to emerge from chapter 11 as a privately held company by the end of April, the Indianapolis Business Journal reported on Friday. The Indianapolis-based company, which flies commuter routes for larger airlines, slid into bankruptcy in February 2016. It was driven to distress by the national pilot shortage, which left it unable to fly some of its routes, and by onerous contract terms with its big-airline partners, American, Delta and United. Republic had filed its reorganization plan in November. But it drew a number of objections, which took months to work through. Judge Sean Lane granted final approval on Thursday. In the reorganization, Republic is canceling its publicly traded stock. The new owners will be creditors, which will receive new common stock in exchange for their claims.

RadioShack's proposal to pay seven of its top executives up to $1.4 million in bonuses is facing some opposition, MarketWatch.com reported yesterday. The retailer's unsecured creditors filed court papers on Tuesday saying that the bonuses are "really disguised as a retention plan," which violates the bankruptcy code. The bankruptcy watchdog overseeing the case voiced similar concerns as the creditors, adding that the financial thresholds the executives must meet to receive the payouts aren't clear. In late March, RadioShack filed court papers seeking approval to dole out up to $1.4 million to the seven executives, who are considered "critical, irreplaceable employees." Court papers say that the amount of the payments will depend upon how much creditors recover at the conclusion of the chapter 11 case. RadioShack, which filed for bankruptcy protection last month, is closing many of its stores but still holds out hope of finding a buyer or investor to help it survive on a smaller scale. U.S. Trustee <b>Andrew Vara</b> is seeking more information on how the bonus payout will be calculated. Similarly, unsecured creditors say the incentives rely "on a single metric that requires no real effort to achieve."

Oakland, Calif.-based solar company Sungevity's $50 million sale to private equity firm Northern Pacific Group post-bankruptcy has been approved by a Delaware judge, the San Francisco Business Times reported today. In mid-March, Sungevity filed for chapter 11 bankruptcy in a Delaware court. That followed months of layoffs from the company, which had hoped to revolutionize the way consumers used solar by introducing them to software that simplified the process. Instead, the company wound up insolvent, laying off 410 workers before it sold itself to Northern Pacific. “The agreement we have reached with the team led by Northern Pacific Group and its co-investors is a testament to their confidence in the future of Sungevity’s business,” William Nettles, the newly appointed chief administrative officer of Sungevity, said in a statement. “The actions we have announced will allow Sungevity to emerge as a stronger and more competitive company.” Sungevity said in its bankruptcy filing that it had assets and liabilities between $100 million to $500 million, but now that the bankruptcy court has approved the sale, Northern Pacific will pour $20 million in financing into the solar company.