Boater's World Bankruptcy

[bayman]

It looks like iboats will be busier taking orders from me and other boaters soon. The parent company to Boater's World, has just filed for bankruptcy.

http://www.businessweek.com/ap/financialnews/D96HEULG0.htm

http://www.tradeonlytoday.com/index...rld-parent-company-files-for-chapter-11-.html

 

[Bob_VT]

Re: Boater's World Bankruptcy

I hate seeing any business go down

Iboats would be glad to fill order's.

 

[mphy98]

Re: Boater's World Bankruptcy

Another tough blow, the press really needs to start finding good spots in the economy to showcase. IE Hershey chocolate 10% increase in profits. Johnson wax and Johnson worldwide (here in my county) profits up and no layoffs planned! Never has been any at Johnson's in it's history. Quote Sam when he was alive, "grab a broom or a paintbrush and find something to do or fix" Great man. We need more business leaders like that today!!

 

[ebry710]

Re: Boater's World Bankruptcy

I had noticed that Boaterworld was selling stuff on ebay.

 

[capt sam]

Re: Boater's World Bankruptcy

Wonder if they're gonna have any blowout sales on electronics, I need a new gps/ff.

 

[mthieme]

Re: Boater's World Bankruptcy

It's possible they could sell off BW.
Or maybe they could adjust the prices to be more competitive.

 

[capt sam]

Re: Boater's World Bankruptcy

It's possible they could sell off BW.
Or maybe they could adjust the prices to be more competitive.

The main reason I never bought much there, was that they had just some stuff, stuff I never needed or stuff that was really pricey, kinda like a Mall version of WM.

 

[xxturbowesxx]

Re: Boater's World Bankruptcy

I have bought a lot from them and still do.. I bet i have spent 2k last year in the store.. its across the street and when I'm working on something i don't like going far or paying waiting for shipping. Its sad to see because they have some good knowledgeable people working at my boaters world.. I thought they had reasonable prices on most things(switches and electrical expensive).. I bought a Garmin 400c from them for 299.99 and haven't seen that price anywhere else. 25 min to West Marine and I guess my boaters world card will be worthless now .. I like Iboats and enjoy purchasing things that i have planned out but for last minute things or small things boaters world is great..

 

[lowkee]

Re: Boater's World Bankruptcy

Boater's World is the only boat place I know of within 30mins of my house. Finally find a boat place and this happens..

And here I thought boaters world was too big to fail..

 

[Mark42]

Re: Boater's World Bankruptcy

iboats has an advantage that they have no retail stores. And they have a great web presence with the forums and how to sections. But more stores will be closing their doors and opening on the web. iboats may have to become more price competitive. I just spent $170 ordering boat supplies from a competitor because the exact same order was $50 more when priced at iboats. Sorry guys, $50 is too much of a savings to justify ordering from iboats.

The closest BW is over 50 miles away.

Cabella's is even farther.

So except for few small items I buy at Walmart, everything else I buy from the internet. And its really easy to comparison shop on the internet.

 

[BoatingCop]

Re: Boater's World Bankruptcy

I was wondering because I drove all the way into Austin the other day to go to Boater's World, and it was gone. That was my favorite place. I like to go buy my stuff in person. I think there is a West Marine somewhere in Austin, but I guess I'm limited to the internet now.

 

[tashasdaddy]

Re: Boater's World Bankruptcy

i am not surprized at all, there internet customer service, left something to be desired. i stop buying for their internet store 3 years ago. it would take 4-5 months to get a refund, even when the shipped the wrong item.

i now buy 99% of my stuff from iboats.

 

[cbavier]

Re: Boater's World Bankruptcy

I am surprised WM is still able to stay in buisness with the economy so poor.
Of course they have Boat U.S. to help keep them afloat.Their (WM) prices are higher than anybody elses including Defender and Overton's. Double on some items in fact. We have about seven Marina's within 25 miles of my house and it's cheaper for me to buy local than to drive the 74 miles to the closest WM. If I have to order something I check out Defender and Overton's. I do however get the WM thick catalog which shows me how much I'm saving.

 

[RotaryRacer]

Re: Boater's World Bankruptcy

I don't think it is clear that the stores will all be closing.

Everyone is jumping to that conclusion. Just because Ritz filed for bankruptcy doesn't mean all of the stores will be closing. It is probably likely that many if not most will close...but, bankruptcy doesn't equal going out of business.

 

[nlain]

Re: Boater's World Bankruptcy

We have Boaters World, West Marine, they closed the BoatUS store which was the one worth having, it was also the one that was easy to get to, prices were not bad either. BassPro Shop does not have much for boats so I have to deal with BW and WM. BW is on the edge of town and WM is way in and in a bad place to get in and out of, no one knows what they are doing and the prices are rediculous. I would hate to see BW go away since they usually have the maintenance items I need. I use iboats for most of my internet orders since they usually beat the prices of any others I look at.

 

[BWR1953]

Re: Boater's World Bankruptcy

I don't think it is clear that the stores will all be closing.

Everyone is jumping to that conclusion. Just because Ritz filed for bankruptcy doesn't mean all of the stores will be closing. It is probably likely that many if not most will close...but, bankruptcy doesn't equal going out of business.

Depends on if they filed Chapter 11 or Chapter 7. The news last night didn't say. Even if they did file Chapter 11, they can still change it to Chapter 7 at a later time and be liquidated.

Either way, it's not a good thing.

-BWR

 

[RotaryRacer]

Re: Boater's World Bankruptcy

The article posted in the first post of this thread says Chap 11. It sounds like they are going to try to restructure and get debts settled so they get back to being profitable.

You're right...not good either way.

 

[bayman]

Re: Boater's World Bankruptcy

We don't know exactly what will happen since that will be up to the courts. Maybe the best chance BW has for survival is being bought out but that doesn't look good either. Who wants to buy BW at this point? WM probably wouldn't since many of the locations would be redundant to what WM already has. Plus, WM probably doesn't have hoards of cash right now either. A large boat builder probably wouldn't buy them since the many BW locations would compete with their own dealers and builders have their hands full dealing with the present economy.

 

[eastont]

Re: Boater's World Bankruptcy

When I was in Florida last week for our annual visit, I bought 6 fenders and they were less than half I would have paid here in Canada. Too bad to see them go under. I'll have to look elsewhere in the future. West Marine is just way out of line on their pricing.

 

[lowkee]

Re: Boater's World Bankruptcy

As with everything retail, there are times I will pay 10 times the price just to avoid waiting a day. BW isn't the greatest for prices, but when I need to hold something in my hand and size it up next to another item, they are worth any price.