West Marine files for Chapter 11 bankruptcy

[Crosbyman]

True ??

 

[DeepCMark58A]

Read it online, has to be true.

 

[redneck joe]

yeah about a month ago

 

[dingbat]

Locally, we used to have one every third intersection.

Been dropping like flies for the past 5-10 years. Only know of a couple within a 50 mile radius anymore

 

[aspeck]

It sounds like the restructuring agreement is to liquidate 59 stores, leaving approximate 200 stores still operating in 23 states. Debt will be restructured with the goal of retaining operations and long term sustainability. All warranties will still be honored.

At least these are the stated goals of the Chapter 11.

 

[tphoyt]

I heard the local to me store was closing but didn’t know they were going down.
Online ordering is killing all the brick and mortar stores.

 

[Pmt133]

West is easily double the price of my local marinas for most service items and doesn't typically have them in stock despite my local west being one of the flagship stores. They seem more concerned with stocking clothes and coolers than anything.

 

[Scott Danforth]

Yes, a few weeks back. Posted on Bloomberg. A good friend of mine is a supplier to West Marine.

They owe about $800M to their suppliers.

Tony has to write off about $2M due to Worst Marine

 

[tphoyt]

Yikes 2mil.
I didn’t do a lot of business with west. I try my best to stick with the local guys but there is only one left now the rest are all part of chain.
If I have go for online shopping its usually James Town Distributors. They have super fast shipping and great customer service.

 

[DeepCMark58A]

I heard the local to me store was closing but didn’t know they were going down.
Online ordering is killing all the brick and mortar stores.

Well when you can order online for a cheaper price and have it in 2 days vs going to a store and they have to order the part you need and wait 3 days to get it.

 

[jimmbo]

It sounds like the restructuring agreement is to liquidate 59 stores, leaving approximate 200 stores still operating in 23 states. Debt will be restructured with the goal of retaining operations and long term sustainability. All warranties will still be honored.

At least these are the stated goals of the Chapter 11.

Translation:
Give us Time to insure we can increase Compensation for all the Useless, and Incompetent Executives, and Management who created the Mess, thereby increasing their remaining Bonuses....

 

[nola mike]

Placed an online order with them a couple of months ago, had a problem with it. There was literally not an email or phone number to contact for support. Never seen that before. Even tried calling the number associated with the charge on the card, which wasn't a working number. Ended up disputing the charge with my credit card.

 

[tphoyt]

Well when you can order online for a cheaper price and have it in 2 days vs going to a store and they have to order the part you need and wait 3 days to get it.

Yeah I get it. I’m from a small community and try my best to support my local economy in hopes that people can continue to make a living.
Being that I live on an island and it takes a few/several days to get anything that’s not in stock I’m used to having to wait and pay the higher cost.
It’s the price I pay for living on an island.

 

[DeepCMark58A]

Yeah I get it. I’m from a small community and try my best to support my local economy in hopes that people can continue to make a living.
Being that I live on an island and it takes a few/several days to get anything that’s not in stock I’m used to having to wait and pay the higher cost.
It’s the price I pay for living on an island.

It is the price I pay for living in rural Minnesota with most places closed on Sundays and there is no amazon next day delivery.

 

[redneck joe]

Well when you can order online for a cheaper price and have it in 2 days vs going to a store and they have to order the part you need and wait 3 days to get it.

and make a second trip

 

[redneck joe]

i used to order online from a place called iboats.com....