West Marine has emerged from Chapter 11 bankruptcy protection, a move that marks the completion of its financial restructuring.
The company says it is now better positioned to serve its customers across every channel, with increased flexibility to continue investing in products, services, expertise, and customer experience.
As part of the restructuring, West Marine has reduced its debt by more than $265 million and also obtained an additional $10 million in exit financing to bolster its business in its next phase.
The company has closed around 100 stores but says it will continue serving customers through approximately 100 retail locations, its online platform, and the West Marine Pro business.
New chapter
“Today marks an important milestone for West Marine and the beginning of an exciting new chapter for our business,” said Paulee Day, chief executive officer of West Marine.
“Throughout this process, we remained focused on what matters most: serving customers, supporting the boating community, and preserving the legacy of a company that has been helping people enjoy time on the water for generations.”
And she thanked customers, vendors, partners, and financial stakeholders, together with West Marine employees.
West Marine’s Chapter 11 plan – which included converting $251.2 million of debt into 100% equity of the reorganised company – was signged off by a judge earlier in August 2026.
The marine retailer entered Chapter 11 carrying $549.2 million in debt and around $55 million in annual rent obligations.
The company was founded in 1968 as a small rope business, and has grown over the years into a retailer of marine parts and accessories.
