West Marine, the nation’s largest retailer of boating, fishing and marine supplies, has filed for Chapter 11 bankruptcy protection and plans to close 59 stores nationwide, including eight locations in Florida.
The company, which began as a small rope supply store in California in 1968, has grown into a marine retail giant with more than 200 locations across the United States. Now, as part of a major restructuring effort, West Marine is reducing its footprint while seeking to stabilize its finances and continue operating.
Here’s what we know about West Marine’s bankruptcy and which stores are closing across Florida and in the Jacksonville area.
West Marine has filed for bankruptcy, causing store closures. Here’s what we know
On May 17, West Marine, Inc. announced it had filed for voluntary Chapter 11 bankruptcy protection with the United States Bankruptcy Court for the District of Delaware.
The bankruptcy filing allows the company to continue operating while it restructures its business. However, court documents confirm that more than a quarter of West Marine’s stores will be shuttered as part of the process.
How many West Marine stores are closing?
According to court filings, 59 West Marine locations across 23 states are slated to close.
Florida will see the largest number of closures, with eight stores affected. Michigan will lose six locations, while California and Washington will each lose five stores.
West Marine currently continues to list the affected stores on its online store locator. Once the closures are complete, the retailer will operate fewer than 150 locations nationwide.
The company has hired Hilco Merchant Resources to oversee liquidation efforts at the closing stores. While a final closing date has not been announced, court documents indicate store-closing sales are expected to last no longer than about four months.
How many West Marine stores are in Jacksonville?
West Marine operates three stores in the Jacksonville area:
The company also has a fourth Northeast Florida store in Fernandina Beach:
Which West Marine store in Jacksonville is closing? Where is it?
Only two of West Marine’s four Northeast Florida stores are scheduled to close:
Which West Marine Florida stores are closing?
The following West Marine locations in Florida are expected to close:
Why is West Marine filing for bankruptcy?
In a news release announcing the bankruptcy, West Marine cited several challenges that contributed to the filing, including “supply chain disruptions, extreme weather events, and shifts in consumer behavior,” according to the company.
Is West Marine going out of business?
No. West Marine says the Chapter 11 process is intended to strengthen the company’s financial position and allow it to continue serving customers in the future.
As the company states on its bankruptcy website, it is still open for business and remains “focused on delivering the top-quality marine products, service, and expertise to our customers, and expect no changes to day-to-day operations throughout this process.”
How many people will lose their jobs due to West Marine store closures in Florida?
West Marine says it will continue meeting its obligations to employees during the bankruptcy process, including “including pay and current benefits.”
The company has not disclosed how many workers could be affected by the store closures. With more than 25% of its locations set to shut down, the total number of job losses remains unclear.
Doris Alvarez is a Breaking and Trending Reporter for The Florida Times-Union. You can get all of Jacksonville’s best content directly in your inbox each weekday by signing up for the free Daily Briefing and News Alerts newsletters at jacksonville.com/newsletters.
This article originally appeared on Florida Times-Union: West Marine closing 59 stores after bankruptcy. See Florida list
Reporting by Doris Alvarez Cea, Jacksonville Florida Times-Union / Florida Times-Union
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By Doris Alvarez Cea, Jacksonville Florida Times-Union | USA TODAY Network
