US tackle supplier announces closure of 59 stores

West Marine is closing 59 stores across the United States as the boating and fishing tackle supplies retailer restructures under Chapter 11 bankruptcy protection.

The closures, spanning 23 states and affecting roughly a quarter of West Marine’s retail footprint, comes as the company seeks to reduce costs and address a debt load of more than $500 million. Among its largest creditors are Garmin International and Pure Fishing, said to be owed $8.57m and $2.11m respectively. Liquidation sales are underway at affected locations, with stores in Florida, California, Michigan and Washington among those facing the largest number of shutdowns.

The retailer filed for Chapter 11 bankruptcy protection in May, citing a combination of mounting debt, rising operating costs, weaker demand for recreational boating products and the lingering effects from the pandemic-era boom and bust in outdoor recreation spending.

Despite the closures, West Marine says it intends to continue operating throughout the restructuring process. The company plans to maintain a substantial store network, continue serving customers online and preserve its position as a leading supplier of boating equipment, maintenance products and marine electronics.

Founded in 1968, West Marine built its reputation as a one-stop destination for recreational boaters and marine professionals. But industry analysts say the company struggled to adapt after the surge in boating activity during the COVID-19 pandemic faded, leaving retailers with softer demand and higher operating costs.

The bankruptcy has also renewed scrutiny of the company’s financial structure, with industry observers pointing to years of debt accumulation and expensive lease obligations that left the retailer vulnerable as sales slowed.

For customers, the immediate impact will be a smaller physical store network. For West Marine, the challenge is larger: using bankruptcy protection to emerge as a leaner, financially sustainable business in a boating market that has become increasingly difficult to navigate.