Miami marine retailer exits bankruptcy

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Miami-based marine retailer B&F Marine is exiting bankruptcy protection after restructuring its debt.

Family-owned B&F Marine, which once had four stores, now has one location and 13 employees. Its mortgage was split into three loans, with only one requiring monthly payments and the others due at maturity, the South Florida Business Journal reported.

B&F Marine filed for Chapter 11 bankruptcy protection in December 2010. At the time it declared $4.39 million in total assets and $3.07 million in liabilities.

“As difficult as the restructuring has been, our doors remained open throughout as they have since 1961,” B&F Marine president Antonio Veciana Jr. said in a statement.

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Comments

2 comments on “Miami marine retailer exits bankruptcy

  1. Jim Zimmerman

    We have had a very long term relationship with B & F Marine and congratulate them on this accomplishment. They are a Great organization and we wish them continued success.

  2. floridafishfinder

    Congratulations to all involved! Tough decisions were made and executed, however this company will make it without an Obama or Bush bailout! I’m confident the creditors each took a ‘hit’ against the books, but didn’t saddle the American public with the cost -kudos to them! B&F was likely determined not “Too Big To Fail” and they succeeded without a government bailout proving the system works. I wish our hired help in Washington would believe in the system as much as this courageous company! Score one for ‘the regular guys’!

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