Marine retail giant faces collapse: financial disputes and revenue decline
A South Florida yacht and boat dealer joins the industry's wave of bankruptcies. With 2.6 million dollars in debt, a sharp drop in revenue, and pending litigation, the firm has filed for creditor protection.
FB Marine Group (operating as Fastboats.com Sales Company, LLC) has filed an official petition for bankruptcy and creditor protection (Chapter 11) in a South Florida court.
The company, which operates three main branches in Fort Lauderdale, Miami Beach, and West Palm Beach, is a prominent dealer of Contender and IKon yachts and motorboats, in addition to being an authorized distributor of Yamaha, Suzuki, and Mercury engines. Historically, it supplied vessels for television and film productions and held contracts with government entities.
Court filings indicate that the company experienced a continuous drop in revenue: from 18.4 million dollars in 2024 to 15 million dollars in 2025, and down to 10.5 million dollars from the start of 2026 until the filing date. The company currently reports assets worth approximately 1.7 million dollars against liabilities and debts amounting to approximately 2.6 million dollars.
A significant portion of the company's unsecured debt consists of legal claims and financial disputes with private individuals, including claims in the amounts of 400,000 dollars, 262,000 dollars, and 250,000 dollars.
The move by FB Marine Group reflects a worrying trend in the U.S. marine retail industry. The collapse follows the bankruptcies of industry players West Marine in May and Kadey-Krogen Yachts in July, against the backdrop of a general slowdown in consumer spending on luxury goods and boating.
