Boaters World - Salisbury - Clearance stuff

[Capt Cotton]

So does anyone know if this is a "close all the stores" situation, or a "file bankruptcy and re-organize debt" situation?

I don't really have a pref between them or West Marine other than a bigger, better equipped, BW store is closer to my location and I hate to lose it. Hate it for the employees too.

[Reel Thrill]

I hate to hear it. I've always tried to support my local tackle shops, but the Boater's World selection is hard to beat. I hate to see any company go out of business.

[Capt-D]

It has yet to be made public on what will happen.

Ritz filed chapter 11. Under the direction of the courts they put the boatersworld chain up for auction on Tuesday (yesterday). The Ritz family is intent on saving the "Ritz" chain!

Reportedly, there were 14 prospective bidders with 4 of them of which were liquidators. Depending on the results of the Auction and pending approval of the courts the chain could be liquidated and its contents sold through the many online marine discount stores or the prospective buyer could keep the stores open provided that the capital or lending is available.

Nothing has come to light yet on the results of yesterday, so its a wait and see. I personally hope they stay as i like having options.

-D

[jtocean]

I stopped by Salisbury location and they have some stuff on sale but not Blowout prices. Supposedly normal hours of business and they are bringing in more stuff from other stores to try and sell what they can. 10-30% on some stuff but again nothing blowout. The tuesday sale came and went.

To be continued......

[Surfergirl]

The store on Atlantic Beach is going out of business also... I really do not like going into West Marine, They are so much more expensive.

[Capt Cotton]

My worst fears are confirmed. Our store in Murrells Inlet is closing and having a clearance sales as well. The same 10 - 30% off. My heart and stomach just sunk. I absolutely loved that store. I could walk the aisles for hours looking at crap I would never need, but it was almost like therapy.

Employee said that Ritz sold BW to the liquidators in order to save the camera division. Who knows the whole truth. The end result is that my favorite store will not be around for the upcoming season.

[tunatamer4]

Guys- this topic is being discussed on another site and I thought this may interest those of you who plan to shop BW.This was copied from there.

"Just left my local BW and have it figured out. They guy in there is a part timer and very open about what he knows.
The liquidator has marked everything down 10% from LIST price. They have instructed the employees not to change anything and that the computer would handle discounts. The problem is anything that was already marked down, lets say 20% is now only marked down 10%, so in fact the prices at BW overall are higher than they were a week ago.
We talked for quite a while and checked several items. Everything was 10% off list and nothing was discounted any more. A pair of shoes marked as 1/2 off ($40 discount) was actually onlyl $9 off! It's true that he cannot offer any onther price, nor will they computer allow him to refund any money.
The guy I spoke to was very up front and as we were talking he was warning all that came through the door to check the price at the register before buying anything.

All that being said it wont matter in a couple weeks, those guys will all be laid off and the stores will be run by employees of the liquidator, and they will make sure nothing is sold below wholesale.
In a court ordered liquidation nothing gets given away.
Moral of the story, buyer beware, if it looks to good to be true, it most likely is."