Compass Diversified (Codi) reported that two of its companies, 5.11 Tactical and Liberty Safe, took bad debt reserve charges of $1.3 million and $1.4 million, respectively, in the first quarter of this year because of the bankruptcy of Gander Mountain, a U.S. retail chain that is now in liquidation proceedings. Sales grew by 16 percent to $78.5 million at 5.11 Tactical, boosted by a one-time sale to a foreign agency, and the company had an operating loss of $9.5 million, due to an increased inventory valuation related to its acquisition by Codi.
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