16 • June 2026 • Powersports Business
PWC / MARINE www. PowersportsBusiness. com
West Marine files for Chapter 11 bankruptcy protection
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National boating retailer West Marine filed for Chapter 11 bankruptcy in the U. S. Bankruptcy Court for the District of Delaware on May 17, according to a court filing and reporting by PSB sister publication Boating Industry.
West Marine has“ entered into a Restructuring Support Agreement with the support of its key financial stakeholders, including 96.2 % of its term loan lenders, 100 % of its FILO lenders, and 93.9 % of its equity holders, to pursue a comprehensive restructuring transaction that will allow the company to deliver its capital structure while maximizing value and ensuring continued service to the boating community,” a statement from
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West Marine’ s largest unsecured creditor is Garmin International, the global SOS satellite communicators company. It lists Garmin as having an $ 8.57 million balance.( File photo) West Marine)
the company said. Portage Point Partners is serving as the investment banker to West Marine in connection with its restructuring.
UNPAID DEBTS According to the court filing, West Marine’ s largest unsecured creditor is Garmin International, the global SOS satellite communicators company. It lists Garmin as having an $ 8.57 million balance. Virtual Supply, a distribution logistics company, follows with $ 5.8 million. Components and accessories manufacturer Sierra International has a $ 4.7 million balance due, and tackle producer East Penn Manufacturing Co. is owed $ 4.43 million.
Twenty-six additional creditors are listed, including Lippert Components Manufacturing, Lumitec LLC, 3M, AkzoNobel, Raymarine, Xylem and Navico.
The company’ s 200 retail locations will remain open during the restructuring, according to the statement.
“ West Marine has been a trusted partner to the boating community for decades, and we remain deeply committed to that mission,” says CEO Paulee Day.“ The actions we are taking today will allow us to optimize our operations and rationalize our footprint, so that we can focus on continuing to serve our customers and community well into the future. I thank our dedicated crew members, our loyal customers and partners, and our financial partners for their continued support.”
D-Marin data reveals evolving expectations among today’ s boaters
Year on year, total boat nights across D-Marin marinas have increased by 49 %.( Photo: D-Marin Porto Mirabello)
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D-Marin has identified a structural shift in cruising behavior as modern boaters increasingly move away from single-base sailing and embrace more flexible, multi-destination itineraries, according to a report in Boating Industry.
Year on year, total boat nights across D-Marin marinas have increased by 49 %. The number of unique boats visiting multiple D-Marin destinations has risen by 28 % since 2023, while overall visits are up by 41 %. Together, these figures reflect more than growth alone. They point to a change in mindset
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: boaters are seeking greater mobility, adaptability and the freedom to design journeys that span multiple destinations within a single trip.
BOATERS’ VIEWS ARE CHANGING Rather than treating a marina as a static home port, D-Marin data suggests that customers are increasingly viewing it as part of a broader cruising journey combining destinations and extending time on the water.
Giorgio Arpresani, a lifelong sailor from Porto Mirabello and captain of the catamaran
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NANA BLU, reflects this approach.“ I don’ t really have a favorite destination for me, it’ s enough just setting sail, leaving the harbor behind and feeling the wind as I head out to sea. The journey itself is what matters most,” he says.“ Having the possibility to include different D-Marin marinas in my route makes it easier to shape longer journeys and adjust plans along the way. But what truly makes the difference for me is the atmosphere. Beyond the technical excellence, safety, services and organization Porto Mirabello has become much more than just a berth. After two years, it feels like home.”
Dean Smith, chief commercial officer at D-Marin, adds,“ What we are observing is not simply increased activity, but a clear evolution in cruising patterns. Boaters are planning more fluid routes and engaging with several D-Marin marinas during a single journey.”
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