West Marine, the nationally prominent boating supply firm that moved from California to Fort Lauderdale four years ago, has emerged from Chapter 11 bankruptcy with less debt and a smaller chain of stores.

The company will also have fewer employees. Earlier this summer, it notified the state of Florida that 80 staff members at a downtown Fort Lauderdale support center will be laid off by October. And unsecured creditors did not fare well during the company’s trip into U.S. Bankruptcy Court, which started in mid-May. They are expected to recover nominal amounts for what they were owed.

Yet the company is moving forward without the burden of heavy expenses. It shed $265 million in debt and now has $10 million in operating capital.

In a statement earlier this week, Paulee Day, the chief executive officer, declared the opening of a “new chapter” in the company’s history.

“Throughout this process, we remained focused on what matters most: serving customers, supporting the boating community, and preserving the legacy of a company that has been helping people enjoy time on the water for generations,” she said. “Thanks to the support of our customers, vendors, partners, and financial stakeholders, and the unwavering dedication of our Crew Members, we are emerging as a stronger company positioned to build on momentum and serve the boating community for years to come.”

West Marine was founded in a California garage in 1968. It moved its headquarters to Fort Lauderdale from Santa Cruz, Calif., in 2022 as a nationally prominent supplier of boating accessories and equipment with 230 stores.

It filed for protection from creditors in May citing a debt load that exceeded $400 million, rising interest rates, the high costs of leases and severe weather events that depressed sales in major markets.

In June, the company sought to auction itself off, but no qualified bidders stepped forward, according to filings in U.S. Bankruptcy Court in Delaware.

West Marine’s online store locator now lists 100 locations in 24 states and Puerto Rico. There are 35 stores in Florida, the state with the most outlets.

The stores listed in Broward, Palm Beach and Miami-Dade counties are:

Fort Lauderdale: 2401 S. Andrews Ave.
Pompano Beach: 850 Federal Highway.
Lantana: 1389 S. Dixie Highway.
Aventura: 17641 Biscayne Blvd.
Miami: 3635 S. Dixie Highway.