West Marine Inc. said June 15 it is closing 59 stores, including two in the Jacksonville area, after filing for a Chapter 11 bankruptcy reorganization in May.
The boating supply company is closing stores at 14180 Beach Blvd. in Jacksonville and at 474347 E. State Road 200 in Fernandina Beach, according to its website.
The website lists three other Northeast Florida stores that are remaining open: at 4874 Big Island Dr. in the Markets at Town Center; at 4524 St. Johns Ave. in Roosevelt Plaza; and at 1030 S. Ponce de Leon Blvd. in St. Augustine.
The closures also include a Palm Coast store at 250 Palm Coast Parkway.
West Marine did not say when the closings will take effect.
Fort Lauderdale-based West Marine filed a Chapter 11 reorganization plan, with the support of its creditors, May 17 in U.S. Bankruptcy Court for the District of Delaware.
West Marine, founded in California in 1968, operated about 200 stores in 34 states and Puerto Rico when it filed for Chapter 11.
The company’s disclosure statement filed in bankruptcy court said industry conditions forced it to seek a reorganization.
“Despite its impressive growth in the marine aftermarket industry, the Company has recently faced significant pressures from inflation, macroeconomic volatility, a suboptimal retail footprint, and certain operational challenges. These challenges have strained the Company’s liquidity profile and ability to invest in its business,” it said.
“The Company is currently burdened by underperforming and unprofitable stores which it has been unable to efficiently rationalize outside of chapter 11 due to the Company’s long-term lease obligations. Additionally, extreme weather conditions during the Company’s peak season in the summers of 2024 and 2025 have negatively impacted in-store and eCommerce sales,” it said.
With creditors backing the reorganization, the company said in the disclosure statement it expects to emerge from bankruptcy in August.