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Sad News for Boater's World
https://www.smwebhead.com/phpBB3/viewtopic.php?f=2&t=3029		 Page 1 of 3
Author:  Cap'n Morgan [ Fri Mar 20, 2009 9:20 am ]
Post subject:  Sad News for Boater's World
We only have one store about 45 miles from here, but for any of you that were regular customers at your local Boater's World it will be sad to see them go. In the meantime, there might be a few deals to find during the liquidation.

Quote:
Boater's World to be liquidated

By IBI Magazine

The assets of 129 Boater's World stores will be liquidated by the company that submitted the largest bid for the retail chain. Boater's World parent company, Ritz Camera Centers, should collect about US$40m from the sale.

According to the Baltimore Sun, Gordon Brothers Group LLC was given permission by US Bankruptcy Judge Mary Walrath to liquidate the chain's assets. They were the highest bidders from Tuesday's auction. Ritz attorney Irving Walker told Walrath in a hearing yesterday that the sale was in "the best interest" of the creditors.

In its bid, Gordon Brothers guaranteed that Ritz would collect at least 90 per cent of the value of the goods sold during the liquidation. According to its website, Gordon Brothers Group conducts over US$40bn in annual transactions and appraisals in over 15 offices worldwide.

A spokesman at Boater's World was unavailable for comment.

(20 March 2009)
Author:  captwalt [ Fri Mar 20, 2009 9:24 am ]
Post subject:  Re: Sad News for Boater's World
do they have a total of 129 stores or is this 129 of X stores will be liquidated?
Author:  Cap'n Morgan [ Fri Mar 20, 2009 9:34 am ]
Post subject:  Re: Sad News for Boater's World
They have/had 129 stores that will liquidate their merchandise over the next few months. They hope to have all done by June 1st. Initial discount should be about 30% and increasing as their inventory is depleted.

http://www.baltimoresun.com/business/ba ... 0065.story
Author:  cougarcruiser [ Fri Mar 20, 2009 9:39 am ]
Post subject:  Re: Sad News for Boater's World
any idea when the liquidation will start?
Author:  Cap'n Morgan [ Fri Mar 20, 2009 9:53 am ]
Post subject:  Re: Sad News for Boater's World
cougarcruiser wrote:
any idea when the liquidation will start?


Just some rumors that it will start this Saturday. Not confirmed however.

http://www.boatersworldstores.com/
Author:  millhaven_nice_guy [ Fri Mar 20, 2009 11:25 am ]
Post subject:  Re: Sad News for Boater's World
I think that rumour is just wishful thinking.... The liquidators will have to move in, inventory, markdown, establish workers etc... I would guess in two weeks minimum.
Author:  Cap'n Morgan [ Fri Mar 20, 2009 11:39 am ]
Post subject:  Re: Sad News for Boater's World
millhaven_nice_guy wrote:
I think that rumour is just wishful thinking.... The liquidators will have to move in, inventory, markdown, establish workers etc... I would guess in two weeks minimum.


Could be, but I have read this morning on some blogs that the sale in the Wilmington store started this morning. Other reports at a few stores indicate the sale is on now as well.
When Circuit City liquidated recently, they did not have to hire workers, used their own employees, marked down everything 30% at the cash register, and started clearing out displays and fixtures as they were emptied.
Only one way to find out for sure, check your local Boater's World.
Author:  Graham R [ Fri Mar 20, 2009 12:04 pm ]
Post subject:  Re: Sad News for Boater's World
That's a shame; where will I go for my Boating store "fix" when I'm next in Orlando ?

Graham
Author:  M3eater [ Fri Mar 20, 2009 12:05 pm ]
Post subject:  Re: Sad News for Boater's World
Ritz is also in Chapter-11 ....... and I would imagine will eventually liquidate.

http://www.dpreview.com/news/0902/09022403ritzcameras.asp
Author:  cougarcruiser [ Fri Mar 20, 2009 12:19 pm ]
Post subject:  Re: Sad News for Boater's World
I just called my local Boatersworld. This is all confirmed and the liquidation sale starts today!

Today -- woo hoo -- a whopping 10% off!

They said it will ramp up to 30% over the next week.
Author:  millhaven_nice_guy [ Fri Mar 20, 2009 12:30 pm ]
Post subject:  Re: Sad News for Boater's World
I'm surprised at how quick the liquidation is starting but am glad for you U.S. guys... As far as I know they don't have a location close to me even just across the border.

I have a hard time swallowing West Marine's prices right now imagine next year when they don't have this competition?

If I were close to a Boater's World, I would be visiting my local store and eyeballing all the "goodies" I want and then going back everyday to check on discount vs. stock....When stock gets low jump on the items one by one and don't look back. Get to know one or two of the clerk's and make sure they check the warehouse when you are looking for the stock counts. For example, if it's the last item and you really want it and the price fits your budget-- BUY IT! If there's 6 left and it's not a "hot" item....wait for the next discount level. Your new buddy may be able to tell you when that is coming up! :lol:
Author:  captwalt [ Fri Mar 20, 2009 12:41 pm ]
Post subject:  Re: Sad News for Boater's World
I just went by during lunch. 10-30% off everything.
Author:  mkivbren [ Fri Mar 20, 2009 1:28 pm ]
Post subject:  Re: Sad News for Boater's World
I was in there this week and the mgr was hopeful they'd be bought out and it would be business as usual. They had a pretty good sale on their Bombard dinghy's but she said that their license expired friday (today) and after today they'd have to pull it off the shelf. I guess I'd then have to deal with warranty issues directly through zodiac now if I were to buy it.
Author:  aguyindallas [ Fri Mar 20, 2009 2:48 pm ]
Post subject:  Re: Sad News for Boater's World
Two Things:

1. This is really sad to see another big company fail due to our economy, it really is.

2. Have you seen a "liquidation sale"? Its an absolute joke! The liquidation company comes in, marks everything up to FULL MSRP, THEN they discount from there. Its such a bunch of crap. Anybody see how the Circuit City liquidation went down? 42LCD TV's, liquidation priced HIGHER than they were for sale prior to bankruptcy in the same store.
Author:  scottmph [ Fri Mar 20, 2009 4:10 pm ]
Post subject:  Re: Sad News for Boater's World
aguyindallas wrote:
Two Things:

1. This is really sad to see another big company fail due to our economy, it really is.

2. Have you seen a "liquidation sale"? Its an absolute joke! The liquidation company comes in, marks everything up to FULL MSRP, THEN they discount from there. Its such a bunch of crap. Anybody see how the Circuit City liquidation went down? 42LCD TV's, liquidation priced HIGHER than they were for sale prior to bankruptcy in the same store.


exactly - I had a bud who thought he got a good deal on a large LCD till he researched online... smoke was coming out his ears, really.
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