Major boat retailer files for bankruptcy amid legal claims and falling demand
A sharp decline in boat sales and mounting debt have led the well-known Florida-based FB Marine Group to file for bankruptcy. The retailer, whose vessels have featured in international ad campaigns, reports debts of $2.6 million.
The economic slowdown and reduced consumer spending on luxury goods continue to take their toll. The well-known boat retail chain FB Marine Group (operating legally as Fastboats.com) has filed for bankruptcy in a Florida court, collapsing under the burden of legal claims and a continuous decline in revenue. Its failure follows the collapse of other industry giants, such as West Marine.
According to recently filed court documents, the company reports liabilities of $2.6 million against assets worth only $1.7 million. The company's revenues have fallen consistently: from $18.4 million in 2024 to $15 million in 2025. The list of major creditors includes primarily private entities demanding hundreds of thousands of dollars following various lawsuits and court rulings against the firm.
FB Marine Group is a family-owned business operating three branches in Florida, marketing yachts and motorboats. Over the years, the company's vessels have starred in high-profile media productions, including campaigns for the super-brand Louis Vuitton and GQ magazine. Additionally, the company has provided services to various government bodies.
The chain's crisis reflects broader distress in the industry. According to data from the National Marine Manufacturers Association, new boat sales in the USA fell by 8.8% in 2025. This figure, coupled with shifting consumption habits and the avoidance of non-essential expenses, weighs heavily on companies in the marine leisure sector now fighting for their survival.
