True boat lovers reject the popular saying that the two happiest days of a boater’s life are the day they buy the boat and the day they sell it. For them, happiness is putting the boat in the water and sailing off, never-ending expenses included.
That devotion drove a boom in boat sales during the Covid pandemic, as many Americans turned to the water to escape. After seeing a spike in sales during the crisis, when most other industries struggled, the recreational boating market is now feeling the impact of consumers’ discretionary spending cuts.
In fact, most boat owners make less than $100,000 a year, often purchasing smaller and more affordable vessels. This makes the industry “particularly sensitive to shifts in consumer confidence and credit availability,” according to IBIS World’s Boat Sales & Repair in the U.S. report.
According to Deloitte’s State of the US Consumer July 2026 report, discretionary spending intentions grew for a third straight month in June; however, they remain below the 2021 baseline.
The full-year 2025 data from NMMA reveal that new boat retail unit sales dropped 8.8% year over year to 215,237 units, down from 236,070 units in 2024.
Amid these shifts in consumer behavior, the largest U.S. boating retailer, West Marine, recently filed for Chapter 11 bankruptcy and closed 59 stores. More recently, the boat retailer confirmed an additional wave of closures.
West Marine closes another 32 stores
West Marine Inc., the largest boating and marine supplies retailer in the United States, recently confirmed plans to close an additional 32 retail locations, bringing the total number of stores slated for closure to 91, reported BoatBlurb.
The latest 32 closures join the previously announced 59 closures and are part of the company’s Chapter 11 bankruptcy restructuring.
The company disclosed several factors pushing it into bankruptcy, includingsupply chain disruptions, extreme weather events, and shifts in consumer behavior, according to its official press release.
West Marine aims for Chapter 11 to help it strengthen its balance sheet, reduce debt, and improve financial flexibility.
“We recently made the difficult decision to close select store locations. While this change wasn’t easy, our commitment to you hasn’t changed one bit — West Marine is open, stocked and ready to help with everything you need to get back on the water,” the company states on the store closure web page.
West Marine closes a total of 91 stores in Chapter 11 bankruptcy.Smith Collection/Gado/Getty Images
West Marine’s total 91 locations closed:
Alabama (1)Mobile: 5004 Dauphin Island Pkwy.
California (7)Chula Vista: 630 Bay Blvd. Monterey: 2024 Del Monte Ave. Oceanside: 1719 Oceanside Blvd. Pittsburg: 4645 Century Blvd. Redding: 2607 Bechelli Lane Sacramento: 9500 Micron Ave #116 Santa Barbara: 132C Harbor Wy.
Connecticut (2)Branford: 33 Business Park Dr.Norwalk: 99 Water St.
Maryland (5) Baltimore: 2700 Lighthouse Point E Edgewater: 3257 Solomon’s Island Rd. Ocean City: 12638 Ocean Gateway Rock Hall: 21386 Rock Hall Ave. North East: 475 N. Mauldin Ave.
Maine (2)Portland: 127 Marginal Way Southwest Harbor: 11 Apple Lane
Michigan (7)Bay City: 4128 Wilder Rd. Grand Haven: 810 Jackson St. Muskegon: 2492 Henry St. Petoskey: 105 West Mitchell St. St. Clair Shores: 25050 Jefferson Ave. Troy: 789 E. Big Beaver Rd. Holland: 12513 James St.
Minnesota (1)Minnetonka: 12350 Wayzata Blvd.
Missouri (1)Osage Beach: 3872 Osage Beach Pkwy.
North Carolina (2)Oriental: 1104 Broad St. Ext. Raleigh: 3027 Capital Blvd.
New Jersey (4) Cape May: 791 Route 109 Eatontown: 178 State Route 35 S Toms River: 213 Route 37 East Lodi: 100 Route 17 South
Nevada (1)Reno: 2505 Mill St.
New York (6) Irondequoit: 1850 Ridge Rd. East Port Washington: 16 Soundview Marketplace Watertown: 21214 Pioneer Plaza Dr. Buffalo: 2192 Niagra St. Huntington Harbor: 56 New York Ave. Riverhead: 1089 Old Country Rd.
Ohio (4)Cleveland: 1577 Saint Clair Ave. NE North Olmsted: 24781 Lorain Rd. Sandusky: 207 E. Water St. Toledo: 6176 N Summit Bldg. F
South Carolina (5)Anderson: 3501-2 Clemson Blvd. Murrells Inlet: 12078 Highway 17 Bypass North Myrtle Beach: 1288 Highway 17 N Port Royal: 1347 Ribaut Rd. Columbia: 142 Harbison Blvd.
Tennessee (1)Knoxville: 7812 Kingston Pike
Texas (1) Lewisville: 4850 SH 121
Virginia (2) Glen Allen: 10819 W. Broad St. Alexandria: 601 South Patrick St.
Vermont (1)Burlington: 861 Williston Rd.
Washington (7) Bellingham: 3560 Meridian St. Bremerton: 5971 State Hwy. 303 NE Everett: 1716 West Marine View Dr. Port Townsend: 2428 Washington St. Spokane: 5306 East Sprague Ave. Bellevue: 13211 Northup Wy. Olympia: 1530 Black Lake Blvd SW Suite C
Wisconsin (1) Greenfield: 4141 S 76th St.Source: Notice of Filing Store Closing List, West Marine
West Marine Chapter 11 bankruptcy details and canceled auction
West Marine signaled it is preparing for a potential Chapter 11 bankruptcy filing to restructure its debt and lease obligations, TheStreet Co-Editor-in-Chief Daniel Kline reported in May 2026.
Since then, the outdoor giant filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware, closed 59 stores, and now an additional 32.
“West Marine has been a trusted partner to the boating community for decades, and we remain deeply committed to that mission. 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,” stated CEO Paulee Day, when the company filed for Chapter 11.
To support ongoing operations through the Chapter 11 process, West Marine reached an agreement with its secured lenders to use its cash collateral. The lenders also agreed to provide new financing to support the company’s exit from Chapter 11.
Related: Discount grocery chain closing stores
After filing for Chapter 11 bankruptcy, West Marine also filed customary first-day motions with the Bankruptcy Court requesting authority to continue operations without disruption, which includes meeting employee payroll and benefits.
The company’s restructuring process faced its first major hurdle when an asset auction was canceled after no qualified bids emerged, reported SGB Media on July 7, 2026.
The boating and fishing retailer confirmed it plans to continue with its pre-arranged reorganization plan that includes the closure of around one-quarter of its locations and an exchange of debt for equity.
Under the pre-petition reorganization plan filed in Delaware’s bankruptcy court, lenders will convert roughly $251.2 million in term loan claims into 100 percent of the new equity interests in the reorganized company. The Restructuring Support Agreement (RSA) was backed by 100 percent of its FILO (First In, Last Out) lenders and 96.2 percent of its term loan lenders.
The document also states that the total outstanding obligations amount to $429.3 million.
“Under the current reorganization plan, general unsecured creditors face a “death-trap” provision that will result in little to no financial recovery. The total amount owed to these unsecured creditors — which includes major vendors like Garmin International ($8.57 million), Virtual Supply ($5.8 million), and Sierra International ($4.7 million) — ranges between $99.3 million and $109.2 million,” reports SGB Media.
West Marine confirmed that vendors and suppliers will be paid in full for all goods and services provided after the May 17, 2026, bankruptcy filing date. Only the debts incurred before filing are subject to losses.
The Combined Confirmation Hearing, initially set for July 30, has been postponed to Aug. 11.
What West Marine consumers should know regarding closures
Consumers who own a gift card or placed an order for pickup at one of the stores scheduled for closure should know that they can still use the gift card at the closing store up to the closure date, online, or at any other West Marine location.
The retailer also noted that all orders placed before June 12, 2026, can be picked up at a closing West Marine store location.
Consumers can’t return or exchange merchandise at closing stores, as all sales are final at any closing store.
Shoppers can still place orders online and in store, and warranties and product support will be honored.
Regarding the West Advantage Rewards program, the company shared that members’ accounts will remain active, and loyal customers can continue to use their account benefits.
What’s next for West Marine?
West Marine had more than 200 retail locations across North America before announcing its Chapter 11 filing. This suggests the retailer will soon be left with about 110 operating stores.
In addition to closing stores with unprofitable leases, West Marine plans to transform and build its business around West Marine Pro, its wholesale and professional division, that drives more than 40% of its total revenue, writes Marine Industry News.
West Marine Pro provides service to marine technicians, marina operators, fleet managers, boat builders and government organizations responsible for maritime assets.
The boat giant also plans to remodel its remaining stores to better serve professional customers by allocating more space for high-volume marine parts, while scaling back non-essential/discretionary retail products.
The retailer also plans to connect its store inventory to its website and Pro app. This lets commercial clients scan barcodes, view wholesale prices, and check local stock in real time.
Related: Car dealer closes 40% of its stores, shares bankruptcy warning
This story was originally published by TheStreet on Jul 24, 2026, where it first appeared in the Retail section. Add TheStreet as a Preferred Source by clicking here.
