Boating Giant Sinks into Bankruptcy: West Marine Closing 59 Stores Worldwide (Full List & Liquidation Sales)
the staff of the Ridgewood blog
Lodi NJ, The retail apocalypse has officially hit the open seas. West Marine, the premier Florida-based marine and outdoor outfitter, has formally filed for Chapter 11 bankruptcy protection.
As part of a massive corporate restructuring effort, the company announced it will shut down 59 retail locations across 23 states. The sudden downsizing follows a perfect storm of mounting heavy debt, hyper-expensive commercial leases, and a significantly weakened consumer boating market.
Continue reading West Marine to Close 59 Stores in Major Restructuring Including 3 in New Jersey
