West Marine filed for Chapter 11 bankruptcy protection on May 17, 2026, in the U.S. Bankruptcy Court for the District of Delaware. The case, numbered 26-10794, is a pre-arranged restructuring backed by the overwhelming majority of the company’s lenders and equity holders. It is not a liquidation.
The filing follows weeks of reported restructuring talks and confirmed the move that Powerboat News first reported on May 6.
Stores Remain Open
All approximately 200 West Marine retail locations across 34 states and Puerto Rico remain open and trading. The company’s online platforms and West Marine Pro app continue to operate without interruption.
West Marine has secured consensual use of cash collateral alongside new exit financing commitments, giving it sufficient liquidity to trade through the process.
Creditor Support
West Marine entered the filing with a Restructuring Support Agreement already in place. The RSA carries the backing of 96.2% of term loan lenders, 100% of FILO lenders, and 93.9% of equity holders.
The primary restructuring track would convert approximately $251.2 million in term loan claims into new equity, with ABL and FILO claims paid in full or rolled into exit facilities. A secondary track – a sale to a third party – remains available if a superior offer emerges through the process.
The company reports assets and liabilities each in the $500 million to $1 billion range.
Vendor and Supplier Position
West Marine has confirmed that all vendors and suppliers will be paid in full for goods and services provided after the May 17 filing date. Amounts owed before filing are subject to the standard bankruptcy process.
Top Unsecured Creditors
Court filings list the largest unsecured trade creditors. Garmin International leads at $8.57 million, followed by distribution company Virtual Supply at approximately $5.8 million and Sierra International at $4.7 million. East Penn Manufacturing appears at $4.43 million.
Other creditors with claims in the $1 million to $4 million range include Lippert Components, Lumitec, 3M, AkzoNobel, Raymarine, Xylem, and Navico. General unsecured creditors are expected to share a distribution pool reported at $250,000, subject to plan confirmation.
Key Dates
June 9, 2026 – Meeting of Creditors (Section 341), 10:00 a.m. ET, via Zoom
June 11, 2026 – Final hearing on first-day motions
Late June / early July – Bid deadline and auction milestones
August 2026 – Target plan effective date
Official Resources
The official case and claims website is at veritaglobal.net/westmarine, managed by claims agent Verita Global. A company restructuring site is at westmarinerestructuring.com.
West Marine Coverage
Powerboat News has been following the West Marine restructuring since the talks were first reported.
Boating Industry Coverage
John Moore is the editor of Powerboat News, an independent investigative journalism platform recognised by Google News and documented on Grokipedia for comprehensive powerboat racing coverage.
His involvement in powerboat racing began in 1981 when he competed in his first offshore powerboat race. After a career as a Financial Futures broker in the City of London, specialising in UK interest rate markets, he became actively involved in event organisation and powerboat racing journalism.
He served as Event Director for the Cowes–Torquay–Cowes races between 2010 and 2013. In 2016, he launched Powerboat Racing World, a digital platform providing global powerboat racing news and insights. The following year, he co-founded UKOPRA, helping to rejuvenate offshore racing in the United Kingdom. He sold Powerboat Racing World in late 2021 and remained actively involved with UKOPRA until 2025.
In September 2025, he established Powerboat News, returning to independent journalism with a focus on neutral and comprehensive coverage of the sport.
