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.