West Marine: Outdoor Retailer Files for Bankruptcy, 59 Stores Permanently Closed

Liputan6.com, Jakarta - West Marine, a leading boating retailer, filed for Chapter 11 bankruptcy protection on May 17, 2026.

The filing was made in the United States Bankruptcy Court for the District of Delaware as part of a restructuring effort that will also result in the permanent closure of dozens of its stores.

A total of 59 retail locations in 23 states are confirmed to be closing, representing approximately one-quarter of the more than 200 stores operating at the time of the bankruptcy filing.

Florida was the most impacted state with eight stores closed, followed by Michigan with six, and California and Washington with five each.

West Marine stated that the Chapter 11 bankruptcy filing will allow it to optimize operations and rationalize its footprint, with a focus on continuing to serve customers and communities well into the future.

The filing is supported by a Restructuring Support Agreement (RSA) involving key financial stakeholders.

This support includes 96.2% of long-term lenders, 100% of FILO lenders, and 93.9% of equity holders, demonstrating strong consensus on the company's plan.

Throughout the restructuring process, West Marine has secured access to cash collateral from its lenders.

These funds will be used to fund day-to-day operations, ensuring business continuity for the approximately 200 retail locations that remain open.

Confirmation of the closures of 59 stores across 23 states is contained in court documents filed on June 1, 2026, in the U.S. Bankruptcy Court for the District of Delaware.

In addition to the aforementioned states, Maine will also be significantly impacted by the loss of its two West Marine stores located in Portland and Southwest Harbor.

The court approved the store closure motion on June 9, 2026.

The liquidation sale for the closing stores will be conducted by Hilco Merchant Resources and is expected to last through the end of September.

Court documents also indicate that West Marine is still analyzing its store portfolio, with the consulting agreement with Hilco Merchant Resources assuming the potential closure of a total of 95 stores.

One of the primary factors that pushed West Marine into its financial crisis was its significant debt of approximately $800 million.

This debt stemmed from a leveraged buyout conducted in 2017 by Monomoy Capital Partners, burdening the company's balance sheet and requiring servicing from its operating cash flow.

The company also cited supply chain disruptions and extreme weather events as contributing to its financial woes.

These two factors collectively worsened West Marine's operational condition and profitability.

Shifting consumer behavior also contributed, particularly the decline in discretionary spending following the surge in boat purchases following the COVID-19 pandemic.

This situation was exacerbated by intense competition from online retailers and the high fixed costs of maintaining a large brick-and-mortar store network.