West Marine, one of the nation’s largest boating and marine supplies retailers, is shutting down 59 stores across 23 states as they battle through Chapter 11 bankruptcy proceedings — including five locations in California.
The company filed for bankruptcy protection in May, citing “supply chain disruptions, extreme weather events, and shifts in consumer behavior” that left the retailer struggling to stay afloat. With inflation squeezing American wallets, boating and fishing spending appears to have sunk.
Among the hardest hit areas is the chain’s own birthplace in California, which is losing retail stores in Redding, Oceanside, Monterey, Pittsburg, and Chula Vista. Florida is taking the worst of the wreckage though, with eight store closures, and then Michigan losing six.
Company executives insisted that the chain is not going out of business completely, promising that the Chapter 11 filing is a restructuring move.
“The actions we are taking today will allow us to optimize our operations and rationalize our footprint, so that we can focus on continuing to serve our customers and community well into the future,” said Paulee Day, Chief Executive Officer of West Marine.
Despite the sweeping closures, the company plans to continue operating almost 150 stores, along with its website and mobile app, while working through proceedings.
It’s unclear how many employees will be affected, but they have stated that “obligations to employees including pay and current benefits” will be fulfilled.
Washington is losing five stores, Maryland and South Carolina are each down four stores.
West Marine is also shuttering stores in New Jersey, New York and Ohio will lose three, Illinois, Maine, Massachusetts, North Carolina, Alabama, Georgia, Louisiana, Missouri, Nevada, Oregon, Pennsylvania, Tennessee, Virginia and Wisconsin.
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The post Doomed West Marine will close 59 stores in 23 states — including 5 in California appeared first on New York Post.
