US boat retail chain West Marine is closing 59 stores as it files for bankruptcy, as Marine Industry News reports.
A court hearing is scheduled for Thursday (11 June) as the beleaguered company attempts to restructure with an “omnichannel” model, putting more emphasis on online sales.
The chandlery network currently comprises 230 outlets across 38 US states and Puerto Rico, according to Bloomberg, which reports that the privately held business — part-controlled by Inter Milan majority owner Oaktree Capital — has been seeking to reduce its debts and “burdensome leases”.
Marine Industry News has more on the story HERE.

















































