U.S. Largest Marine Supplier Files for Bankruptcy, to Close 59 Stores Across 23 States

West Marine, a longtime U.S. boating and marine-supply retailer, has filed for bankruptcy as it works to reorganize its business and address financial strain. The company said it is seeking Chapter 11 protection to strengthen its balance sheet, reduce debt, and improve financial flexibility. As part of the process, dozens of stores are expected to close nationwide, including locations in Portland and Southwest Harbor, Maine, as well as Marblehead and Vineyard Haven, Massachusetts.

The company said its troubles have been driven by several factors, including supply chain disruptions, extreme weather events, and changes in consumer behavior. The boating industry saw a major boost during the COVID-19 pandemic as recreational demand surged, but sales have since declined, according to analysts cited in the report. West Marine said the restructuring is intended to help it optimize operations and focus on serving customers and communities in the long term.

West Marine chief executive officer Paulee Day said the company remains committed to the boating community, emphasizing that the actions being taken now are designed to rationalize the company’s store footprint and support future operations. Despite the closures, around 200 West Marine stores across the United States are expected to stay open during the financial reorganization.

Founded in 1968 and based in Fort Lauderdale, West Marine began in California under a different name before expanding into one of the country’s best-known boating supply chains. By 2009, the company had grown to more than three times the size of its nearest competitor, Boater’s World, which closed all of its stores that same year.

The bankruptcy filing reflects continued pressure on brick-and-mortar retailers facing higher operating costs, shifting consumer demand, and broader economic uncertainty. For West Marine, the restructuring marks a major turning point for a company that has served boaters for decades and is now trying to stabilize its business after a period of financial stress.

Store closures are expected to affect multiple markets, with the company moving to reduce overhead and eliminate underperforming assets as part of its court-supervised reorganization. While the chain will maintain a large national presence, the shutdowns underscore the challenges facing specialty retailers that expanded during the pandemic boom but have struggled to sustain that growth as conditions normalized.

West Marine’s next steps will focus on managing its debt load, preserving its core business, and aligning its store network with current demand. The company’s restructuring process is designed to help it emerge with a stronger financial foundation while continuing to serve recreational boaters, marine professionals, and coastal communities across the country.