West Marine considers Chapter 11 and store closures
Updated
Updated · Bloomberg · May 1
West Marine considers Chapter 11 and store closures
6 articles · Updated · Bloomberg · May 1
The privately held boat retailer, controlled by Oaktree Capital Management and L Catterton, is preparing a possible bankruptcy filing while weighing closures across its more than 230 US stores.
People familiar with the matter said the restructuring would target debt including lease obligations, with location shutdowns forming part of the workout talks.
West Marine operates boating-supply and fishing-focused outlets nationwide, and any Chapter 11 process could reshape its store footprint as it seeks to stabilise its finances.
Owned by the world's top debt experts, how did West Marine sail into a bankruptcy storm?
Why is America's largest boat retailer sinking while the boating market is booming?