West Marine is owned by Monomoy Capital Partners, a private equity firm. The usual game plan for these companies is to buy a company that is marginal, but making a profit, load it up with debt and bankrupt the company. Then sell off the assets and pocket the profits.
I am not suggesting that Monomoy is engaged in that practice, nor that it intends to bankrupt WM and take the profits. However, they did buy a local (to me) company, Oneida Silversmiths, and basically do just that, putting the only US flatware company out of business. Fortunately a few of the local management have resurrected the company but it struggles.
I am not suggesting that Monomoy is engaged in that practice, nor that it intends to bankrupt WM and take the profits. However, they did buy a local (to me) company, Oneida Silversmiths, and basically do just that, putting the only US flatware company out of business. Fortunately a few of the local management have resurrected the company but it struggles.