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West Marine bankruptcy shifts to recapitalization after auction fizzles

Retailer had identified 59 store closures in Chapter 11 case

Johnnie Martinez II

West Marine’s Chapter 11 restructuring has shifted from an auction process to a recapitalization transaction as the boating-products retailer manages store closures, inventory liquidation and lease obligations.  Fort Lauderdale, Fla.-based West Marine is no longer moving forward with the auction process, which was part of court-approved bidding procedures for a potential sale of the boating […]

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