 On April 2, 2009, it announced the closure of more than 300 stores nationwide and the liquidation of its Boaters World subsidiary in an attempt to reorganize and emerge from bankruptcy.On July 21, 2009, Reuters reported that a group called "RCI" had agreed to purchase the firm's remaining 375 stores for $33.1 million; the group included David Ritz.The group said it would attempt to keep all 375 stores open.