As part of West Marine’s Chapter 11 bankruptcy filing, they are closing 59 “underperforming” stores across the country. This is likely to cause some angst in various areas in the country, but it also breathes life into local, smaller marine stores, and should see an increase in on line business as well.
West Marine, the 58-year-old boating and fishing supplies chain that controls more than 230 stores across 38 states and Puerto Rico, has moved into Chapter 11 bankruptcy as it works to shed an $800 million debt load and shutter underperforming locations. They appear to be bloated with too many stores and not enough business. Under the failed administration in the White House, business is likely to only get worse.
Btw, the 59 store closings could go to 95. to see the closings click here, here and here. Good times.
Title inspiration thanks to PE.
