Boater's World files for Chapter 11 bankruptcy

Discussion in 'Industry News' started by iMacattack, Feb 23, 2009.

  1. iMacattack

    iMacattack busy, too busy

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    http://www.reuters.com/article/marketsNews/idUSN2332434320090223

    http://www.ritzinteractive.com/

    Ritz Interactive is a network of e-commerce websites. Led by its flagship sites RitzCamera.com, WolfCamera.com and Boatersworld.com, Ritz Interactive represents a diverse group of properties in different stages of growth. Each site, branded and marketed individually, is dedicated to bringing unique product offerings to the e-tailing shopper. Ritz Interactive and Ritz Camera Centers are separate companies.

    http://www.businessweek.com/ap/financialnews/D96HEULG0.htm

    "Given the company's internal challenges, including unprofitable store leases and Boater's World losses coupled with the overall economic recession, the company had no choice but to seek relief under Chapter 11 ... to preserve the possibility of being able to restructure its business and financial affairs and continue as a going concern," Weinsweig wrote.
     
  2. Brett

    Brett > PRO STAFF <

    Boater's World closing

    Looks like more people are going to be looking for work...

    http://www.lasvegassun.com/news/2009/mar/21/boaters-world-going-out-business
     

  3. Weedy

    Weedy Well-Known Member

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    Re: Boater's World closing


    Page not found on their website.






    It is a sad day in my book! I HATE west marine!!! I always prefer Boaters World and the people are never as snotty as the ones in WM! Besides the prices are most always better at BW [smiley=1-tears2.gif]
     
  4. Brett

    Brett > PRO STAFF <

     
  5. FSUfisher

    FSUfisher Well-Known Member

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    Not to sound rough, but it's the nature of the beast. Tallahassee has an almost new BW, and I went in to find a few things. Although the employees were really nice, they were out of a lot of stuff, didn't carry many things relevant to what I was looking for for my smaller boats, and from what I saw were very overpriced. To say the least I was thoroughly disappointed. I was hoping they'd be better than West Marine, but other than the sales people being a little more laid back maybe, not much different.
     
  6. Brett

    Brett > PRO STAFF <

    In a time where you can order on line and get free shipping
    it's getting harder and harder for storefronts to compete.
     
  7. TomFL

    TomFL Well-Known Member

    Unfotunately I second that point of view. Brick-and-mortar places have incredible overhead compared to an online store. BAM stores need to provide some type of a service (that can't be had online) in order to get/keep customers, rather than just rely on selling product.

    If they are just straight selling product, today's economy almost forces the consumer to shop smart, and that includes online shopping.

    On a positive note, the stores that are folding up leaves a good shopping opportunity as they are discounting stuff very deep.

    -T
     
  8. deerfly

    deerfly Opinicus iracibilus

    At the risk of stating the obvious, Boaters World has an online operation too. :)

    IMO the failing is probably a combination of things within their business practices and operations, with the brick & mortar aspect making it more difficult to keep costs down when sales are soft, like now.  :eek:

    West Marine has made the storefront+online model work, but who knows they may be taking a dive before long too. Either way it's true that online sales have changed retail business forever...
     
  9. Kemo

    Kemo The world is flat....and shallow.

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    I think West Marine will make it, at least the stores near lots of boating activity. It's difficult to do, but I think their online/retail store model is very good. There are still a lot of people who can't wait or don't want to wait for stuff they need when they are ready to go out for the day. Boaters World tried to cater too much to the mid to upper crust boaters because that's where the biggest profit was. In good times, this worked. West Marine has slightly higher prices, but carries a lot more stuff for the lower end boaters. Like me. I would always go there first. And I really avoid the big box stores unless I need something that I would basically just deem "disposable". My 2 cents.

    Kemo :cool:
     
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