The boating and marine supplies retailer said it would honor its obligations to vendors in a pre-packaged Chapter 11 bankruptcy filing that has the support of almost all lenders and equity holders. Controlling shareholders Oaktree Capital Management and L Catterton plan to overhaul the company’s capital structure in a restructuring support agreement favored by 96.2% of term loan lenders, all FILO lenders, and 93.9% of its equity holders. In an affidavit, CEO Paulee Day blamed external and internal headwinds, including extreme weather, supply chain disruptions, and fickle consumers, after pandemic-driven demand ... Log in to view full article.