MJP –
Retailers are taking a major hit as fewer people purchase things in-store; as a result, several have been forced to file for bankruptcy. Several popular chains have declared bankruptcy, forcing the closure of all of their stores.
These include Express, Bob’s Stores, Rue21, Ted Baker, Soft Surroundings, and Outdoor Voices, among many others. Now we hear that another well-known clothes retailer is going bankrupt and closing all of its locations.
In the next weeks, every single Salt Life store in the country will be closing its doors. These stores sell beach wear, including shirts, board shorts, decals, apparel, and more.
The announcement follows the June bankruptcy filing of Delta Apparel Inc., the parent company of the shop. “A combination of reduced demand and difficulties obtaining raw materials have resulted in declining liquidity that Delta’s Board has been unable to counteract, despite their best efforts,” the company claimed in a court statement, explaining the root of their troubles.
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Founded in 2003, Delta paid $37 million to acquire the brand in 2013. From its first site in Jacksonville to its present 28 sites throughout 10 states, it has grown substantially over the years.
As a result of the bankruptcy, a brand management firm and a liquidator purchased all of their assets for $38.74 million.
The entities involved intend to liquidate all of the stores and then transform the Salt Life brand into an online and wholesale enterprise.
In the coming months, Salt Life will sell off all of its inventory, including all of its furniture, fixtures, and equipment, as well as all of its stores and distribution centers. We will accept returns and gift cards for purchases made before September 20th until October 20th.
Right now, though, all sales are final. You can save 40% on a variety of things right now, including t-shirts, shorts, hoodies, tumblers, and more.
