Declining revenue and several lawsuits have been a financial burden for the owner of FB Marine Group, which has filed for bankruptcy, becoming another casualty of the downturn in recreational boat sales.
A pullback in consumer discretionary spending in the last two years has created economic issues for boat retailers, leading to bankruptcy filings by smaller chains like FB Marine Group and major retail chains, like West Marine.
Marine products and accessories retailer Fastboats.com Sales Company LLC, which does business as FB Marine Group, filed for Chapter 11 bankruptcy, facing disputed lawsuit claims and court judgments.
The Fort Lauderdale, Fla.-based debtor filed its petition in the U.S. Bankruptcy Court for the Southern District of Florida on Aug. 5, 2026, listing over $1.7 million in assets and about $2.6 million in liabilities.
FB Marine Group revenue declines
The debtor’s gross revenue declined from over $18.4 million in 2024 to over $15 million in 2025. It earned over $10.5 million in 2026 through the petition date, according to court documents.
Fastboats.com Sales Company’s largest unsecured creditors included Brock Vernon, owed $400,000 in a disputed lawsuit claim; Rudy Trevisan, owed $262,000 in a disputed liability claim; Yaddiel Marin, owed $250,000 in a disputed lawsuit claim; Jules Tremblay, owed $115,000 in a final judgment; and Jason Tolliver, owed over $77,000 in a disputed judgment.
The debtor did not give a specific reason for filing for bankruptcy in its petition.
A company spokesperson was not immediately available for comment on Aug. 7.
Retailer operates 3 locations
The debtor operates family-owned marine products and accessories retailer FB Marine Group, which has retail locations in Fort Lauderdale, Miami Beach, and West Palm Beach, Fla., according to its website.
“It is our goal to help customers find the perfect watercraft to fit their lifestyle, along with just the right parts and accessories,” the company said on its website.
FB Marine Group sells both new and pre-owned watercraft, including yachts, cruisers, center consoles, and runabouts, featuring new Contender, Ikon, Mercury Marine, Yamaha, and Suzuki brands.
Company boats featured in media
The company offers contracting services to local, state, and federal governments, and major television and film production companies use FB Marine Group for projects. The company’s boats have been featured on “America’s Most Wanted,” and in GQ Magazine, Louis Vuitton advertising, DuPont Magazine, Ocean Drive Magazine, Venice Magazine, and several music videos, according to its website.
FB Marine Group’s financial distress intensified as new boat retail unit sales dropped 8.8% year over year in 2025, totaling 215,237 units, compared with 236,070 units in 2024, according to data from NMMA.
West Marine also filed for bankruptcy
The downturn in new boat sales was the final blow that also took down 58-year-old marine parts and accessories retailer West Marine, which filed for Chapter 11 bankruptcy on May 17, 2026, with a restructuring support agreement.
Since its bankruptcy filing, West Marine has closed 91 of its roughly 200 stores, according to its website.
“We recently made the difficult decision to close select store locations,” West Marine said on its store closure webpage. “While this change wasn’t easy, our commitment to you hasn’t changed one bit — West Marine is open, stocked and ready to help with everything you need to get back on the water.”
