The Business of Sailing
West Marine Inc., the largest boating retailer in the United States, is preparing for a potential Chapter 11 bankruptcy filing to restructure its debt and lease obligations, according to a Bloomberg report published May 2, 2026. The privately held company, controlled by Oaktree Capital Management and L Catterton, is planning to close a number of locations as part of the workout talks. The chain’s website lists more than 230 boating-supply and fishing-focused stores across the country.
The retailer is working with financial and legal advisers to evaluate options, and Chapter 11 is emerging as the most likely outcome of the restructuring discussions. Talks with Oaktree and L Catterton began in late April, focused on overhauling the company’s debt in conjunction with a broader business realignment addressing the strain of its existing leases. More here.
