New development, they've now entered Ch 11 and are going to try to come out of their current funk and keep the stores open. 3/23/2009 - More Gloom and Doom for Sportsman's Warehouse - Outdoors - Chattanoogan.com
Story doesn't mention whether the current sales and such will now be ending.
I heard from an industry insider that SW is still indeed part of BassPro, and while BP isn't doing wonderfully in the current mkt, their not horribly bad off either. The guess was that they're just shedding weight in expectation of some tough climbing.