West Marine files for bankruptcy

On May 17, 2026, marine retailer West Marine filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the District of Delaware. The company issued a statement noting how their 200 retail locations will remain open during the restructuring.

According to the Business Industry, West Marine’s largest unsecured creditor is Garmin International, listed as having an $8.57 million balance. Virtual Supply Inc., a distribution logistics company, follows with $5.8 million; components and accessories manufacturer Sierra International Inc. has a $4.7 million balance due; and tackle producer East Penn Manufacturing Co. Inc. is owed $4.43 million. Twenty-six additional creditors are listed and include Lippert Components Manufacturing, Lumitec LLC, 3M, AkzoNobel, Raymarine, Xylem, and Navico.

Peter Swanson, in his report on Loose Cannon, assessed the action as “the result of run-of-the-mill corporate greed, online competition, and the end of the post-COVID boat-buying bump.”