Boaters World to be liquidated?

IRGuy · Post by **IRGuy** » Wed Mar 04, 2009 11:37 am

A post was made today on the B31 forum that Boater's World, owned by Ritz Camera, will be liquidated. Given the state of the boating industry this year I wouldn't be surprised. I haven't verified this, but Boater's World always seemed to me to be a poor second to West Marine. If this is true it certainly is good news for them.

IRGuy · Post by **IRGuy** » Wed Mar 04, 2009 11:49 am

More info.. My above post is somewhat inaccurate.. and for some reason I can't edit it... Per the info in the link below, Ritz Camera, who owns Boater's World. is filing for bankruptcy protection and hopes to reorganize. Both operated at a loss last fiscal year. http://www.reuters.com/article/marketsN ... 4320090223

Justinf89 · Post by **Justinf89** » Wed Mar 04, 2009 1:56 pm

I'm glad they're not closing, I'm there all the time getting little things.

Brian Davin · Post by **Brian Davin** » Wed Mar 04, 2009 2:05 pm

Whether you like BW or not, we need them to keep prices under control through competition. No competition and West's prices will go even higher than they are now.

CB35 · Post by **CB35** » Wed Mar 04, 2009 2:50 pm

You need to look at the date on that press release. Feb 23; today is March 4th. Ritz is in Chapter 11 looking to sell off the BW inventory, the stores, one or all or anything to anyone. They are pulling the plug on leases and stiffing the landlords. No Chapter 11 Boaters World is tits up. If you like the store near you here is your chance to stick it to Worst Marine.

Justinf89 · Post by **Justinf89** » Wed Mar 04, 2009 6:24 pm

quote:Originally posted by Brian Davin Whether you like BW or not, we need them to keep prices under control through competition. No competition and West's prices will go even higher than they are now. Brian '90 Bertram 33' FBC Yanmar 370's "Never Say Never" '70 Bertram 24' Moppie Guilford, CT (Homeport) Kinnelon, NJ (Home) Ha, nobody likes west marine, the higher they go, the faster they will go...

lwrenn · Post by **lwrenn** » Thu Mar 05, 2009 3:20 am

BW seemed to never have anything that is really needed. They other stuff is very entry level and gear to the single outboard motor boat, except for boat shoes. Every time we would go there my wife will buy a pair of sale rack shoes. I stopped going to BW as they are usually within a couple minutes of a WM! Could it be there secret marketing was there downfall. Captain Larry Wren 305-360-4900 www.apirateschoice.com [img]http://www.bertram33.com/photogallery/p ... Choice.jpg[/img]

IRGuy · Post by **IRGuy** » Thu Mar 05, 2009 7:19 am

The BW here in Wilmington had a great location, but they seemed to stock up on more clothing and light fishing gear than West, not heavy duty stuff. It was as if they were trying to appeal to the tourists here rather than the hard core boat owners and fishermen. There are a bunch of local stores selling tee shirts with fish pictures and pirate flags on them, and I have to think the tourist market for that stuff is saturated with stores that close in the winter and open during the warm weather. As to fishing stuff they had the basics, but again, tons of hardware stores have that market taken up. Their real boat gear stock was limited and usually there wasn't much to choose from. The employees were friendly, but they hired a lot of kids who didn't know a shackle from a shoehorn in the summer and they weren't going to impress any customers. I was in there about 2 weeks ago looking for a specific item, and noticed that their stock was getting thin, as if they weren't restocking their shelves. The West store here is new, roomy, and has for the most part several regular employees who are knowledgeable about what they sell. They usually stock several mfgrs items and beat BW hands down. Sorry to see BW disappear, I like competition, but every once in a while the herd needs to be thinned with an application of "survival of the fittest".

smanni · Post by **smanni** » Thu Mar 05, 2009 11:18 am

quote:Originally posted by IRGuy A post was made today on the B31 forum that Boater's World, owned by Ritz Camera, will be liquidated. Given the state of the boating industry this year I wouldn't be surprised. I haven't verified this, but Boater's World always seemed to me to be a poor second to West Marine. If this is true it certainly is good news for them. Frank B - IRGuy@aol.com "Phoenix" 1983 FBC Cummins 6Bs - 315HP Wilmington, NC Disagree on the "poor second" to west marine. In my experience, BW has significantly better pricing and throughout the spring and fall have good deals if you watch them closely. WM is a complete rep off. That being said - I try to buy from the local supplier or tackle shop whenever possible, but end up at BW quite often.

smanni · Post by **smanni** » Thu Mar 05, 2009 11:28 am

quote:Originally posted by CB35 You need to look at the date on that press release. Feb 23; today is March 4th. Ritz is in Chapter 11 looking to sell off the BW inventory, the stores, one or all or anything to anyone. They are pulling the plug on leases and stiffing the landlords. No Chapter 11 Boaters World is tits up. If you like the store near you here is your chance to stick it to Worst Marine. Charlie 35 Bertram 3208 Cats Im not doubting you - but all ive seen online(except for people speculating in forums) is Ch 11 reorg, nothing announced about a ch7 liquidation. If you look at their biggest debts and creditors - none of them are BW related - all camera related. When did they announce sale/liquidation of BW.

CB35 · Post by **CB35** » Thu Mar 05, 2009 12:49 pm

Don't ever doubt me. On February 27, 2009, Ritz Camera Centers, Inc. filed a motion with the bankruptcy court seeking approval of bidding procedures for the sale of its Boater’s World business, including the authority to provide bidders with certain bid protections. Ritz currently operates 130 Boater’s World stores, but has determined that it should exit the Boater’s World business either through a going concern sale or by liquidating those assets. The company is seeking approval of procedures to locate a “stalking horseâ€� bidder and solicit higher or otherwise better bids. In connection with its desire to have a stalking horse bidder, the company is seeking the authority to provide a stalking horse bidder with a break-up fee equal to up to 1.5% of the “guaranteed value offered by such stalking horse bidder.â€� The motion also seeks the approval of the following proposed timeline for the bidding process: * Deadline to object to proposed bidding procedures: March 9, 2009 at noon (Eastern) * Hearing to approve bidding procedures: March 10 at 2:00 p.m. (Eastern) * Deadline to object to sale: March 12 at 4:00 p.m. (Eastern) * Deadline for potential buyers to submit bids: March 16 at noon (Eastern) * Auction: March 17 at 10:00 a.m. (Eastern) * Hearing to approve sale: March 19 at 2:00 p.m. (Eastern)

Miss B · Post by **Miss B** » Fri Mar 06, 2009 4:11 pm

I can tell you the the BW here is higher priced than the WM store. For example, the baby whaler needed drain plugs, it was time to get new ones. $4.99 each at West, versus $7.99 at Boaters World. # 4 battery cable was higher at Boater's World than it was at West's. The reason I know is I bought the stuff at Boater's World, then promptly returned it to them when I drove to West's for some stuff and saw their price for the same stuff, same packaging etc. Around here they charge like a marina price to the public.

Post by **Admin** » Tue Mar 24, 2009 5:35 pm

This is near my house in CA... [xx(] [xx(] [xx(] [img]http://www.bertram33.com/images/uploads ... siness.jpg[/img]

buzzk · Post by **buzzk** » Wed Mar 25, 2009 4:14 am

The staff at Atlantic Beach was great. To me it seemed that WM had more hardware items than BW. But BW seemed to have more fishing tackle. I hate to see BW go. Buzz

Rick · Post by **Rick** » Wed Mar 25, 2009 7:20 am

Their website is still open for biz and mentions nothing about going out of business. I think that I'd fore-go a lay away plan though. Rick Ticket 85 SF Merc 454 MPI's Falmouth, MA