Store closing sign in a near-empty retail space with fluorescent lighting
West Marine, a prominent retailer for boating and fishing supplies, has filed for Chapter 11 bankruptcy protection. The company announced plans to close 59 of its approximately 200 retail locations across 34 states and Puerto Rico as part of a strategic reorganization.
The Fort Lauderdale-based company cited supply chain disruptions, extreme weather events, and shifts in consumer behavior as key factors contributing to its financial difficulties. In a statement, West Marine expressed confidence that the restructuring plan will strengthen its balance sheet, reduce debt, and provide greater financial flexibility.
“West Marine has been a trusted partner to the boating community for decades. The actions we are taking today will allow us to optimize our operations so that we can continue to serve our customers and community well into the future,” said West Marine CEO Paulee Day.
The company aims to complete its Chapter 11 process by mid-August and assured customers that day-to-day operations will continue without interruption during the restructuring period. The store closures will impact locations in Alabama, California, Florida, Georgia, Illinois, Louisiana, Maine, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Virginia, Washington, and Wisconsin.
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