West Marine Inc. announces that it has successfully emerged from Chapter 11 bankruptcy, marking the completion of its comprehensive financial restructuring.

The company exits Chapter 11 with increased flexibility to continue investing in the products and services customers know them for. West Marine has reduced its debt by more than $265 million and obtained an additional $10 million in exit financing to bolster its business in its next phase. The company will continue serving customers through approximately 100 retail locations, its online platform and the West Marine Pro business.

“Today marks an important milestone for West Marine and the beginning of an exciting new chapter for our business,” says Paulee Day, chief executive officer of West Marine. “Throughout this process, we remained focused on what matters most: serving customers, supporting the boating community and preserving the legacy of a company that has been helping people enjoy time on the water for generations. Thanks to the support of our customers, vendors, partners and financial stakeholders, and the unwavering dedication of our crew members, we are emerging as a stronger company positioned to build on momentum and serve the boating community for years to come.”