Articles from West Marine, Inc.

West Marine, Inc. (together with its subsidiaries and affiliates, “West Marine” or the “Company”), the nation's leading omni-channel provider in the marine aftermarket, today announced that it has entered into a Restructuring Support Agreement (“RSA”) with the support of its key financial stakeholders, including 96.2% of its term loan lenders, 100% of its FILO lenders, and 93.9% of its equity holders, to pursue a comprehensive restructuring transaction that will allow the Company to delever its capital structure while maximizing value and ensuring continued service to the boating community. To implement the transactions outlined in the RSA, West Marine has filed for voluntary protection under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.