Overview
- West Marine has filed for voluntary Chapter 11 bankruptcy in Delaware and confirmed it will close 59 stores as part of a court-backed reorganization.
- The 59 closures span 23 states with Florida, Michigan, California, and Washington among the hardest hit, and the company expects to operate fewer than 150 locations after the cuts.
- West Marine has hired Hilco Merchant Resources to run store-closing liquidation sales under a court agreement that limits those sales to about four months.
- The company says it is not going out of business, will keep remaining stores and its online channel open, and will continue employee pay and benefits during the restructuring while local stores begin notifying staff and clearing inventory.
- The filing reflects longer-term pressures on outdoor retail from supply-chain disruption, extreme weather and shifts in discretionary spending and could force wider changes in staffing, supplier contracts and local access to marine supplies.