FORT LAUDERDALE — West Marine, the nation’s largest boating and marine supply retailer, announced plans to close dozens of stores as part of a restructuring effort.
The company filed for voluntary Chapter 11 bankruptcy last month.
Court filings show the Fort Lauderdale-based retailer intends to shut down 59 locations, with eight in Florida. Timelines for the remaining closures have not been announced.
No stores in the Keys were on the list for imminent closure. West Marine has locations in Key West, Stock Island, Marathon, Islamorada and Key Largo.
The retailer specializes in boating accessories and parts, plus related apparel and fishing supplies.
“Like many in the boating community, West Marine has faced headwinds in recent years, including supply chain disruptions, extreme weather events and shifts in consumer behavior,” the company said in a May 17 news release. “Today’s action addresses these challenges by strengthening the balance sheet, reducing debt levels, and improving financial flexibility.”
“West Marine is closing select retail locations as part of its ongoing Chapter 11 restructuring,” the company confirmed in a statement to USA TODAY on June 15. “This decision reflects our effort to align our store footprint with our current business needs, while continuing to evaluate our portfolio in coordination with landlords.”
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