Portage Point Advises West Marine in its Chapter 11 Restructuring

Portage Point Partners is serving as investment banker to West Marine, Inc. (West Marine or the Company), the nation’s leading omni-channel provider of marine aftermarket products, in connection with the Company’s voluntary Chapter 11 proceedings filed in the United States Bankruptcy Court for the District of Delaware. The engagement supports West Marine’s effort to delever its capital structure, market its assets, preserve operational continuity and position the Company for long-term success.

Founded in 1968, West Marine grew from a small rope business in California into the nation’s premier retailer of marine parts, accessories and safety gear. It now operates approximately 200 retail locations across 34 states and Puerto Rico. In recent years, the Company experienced persistent headwinds that placed continued pressure on its operations and capital structure necessitating a proactive financial and operational restructuring. West Marine entered Chapter 11 with the support of a substantial majority of its key financial stakeholders, having executed a Restructuring Support Agreement (RSA) prior to filing. The Company has secured access to cash collateral and new exit financing commitments from its secured lenders to fund ordinary course operations throughout the Chapter 11 process.

This engagement underscores Portage Point’s deep investment banking expertise in complex restructurings and reflects the team’s ability to deliver support during complex, time-sensitive situations. Learn more about our Investment Banking practice.