West Marine Inc. Files For Chapter 11 Bankruptcy in Delaware

West Marine Inc. has filed for Chapter 11 bankruptcy protection in Delaware, according to a court filing.

• West Marine remains open for business and customers will continue to have access to products through its approximately 200 retail locations, the company says in an official statement
• Co. reached an agreement with secured lenders to consensually use its cash collateral, providing the Company with sufficient liquidity to meet its obligations to customers
  • Lenders also committed to providing Co. with new financing in support of its exit from Chapter 11
• Co. expects to receive approval for its requests to the bankruptcy ...