Following a sharp decline in sales and revenue due to the pandemic, a major beer brand has now unexpectedly filed for bankruptcy.
Recently, Salt Life—a lifestyle fashion business that specializes in swimwear and related products—which is owned by Delta Fashion, filed for Chapter 11 bankruptcy.
We sold more than 2 million of these decals to our devoted fans since our company began as one. Today, Salt Life is more than simply a logo—it’s a way of life, a passion for the water, and the salt air. Establishing itself as one of today’s top lifestyle companies, Salt Life was founded by four watermen from Jacksonville Beach, Florida, and has since drawn interest from many ocean lovers worldwide, according to the official site.
Image – TheStreet
The brand stated, “Salt Life’s crew of passionate swimmers has helped put Salt Life’s apparel to the test, and it is designed to withstand the harsh environment that comes with the territory of saltwater sports.”
We offer a wide range of high-quality products, including apparel, performance gear, sunglasses, accessories, and the ever-popular decal, to cater to all types of outdoor enthusiasts, be it marlin fishing offshore, wreck diving, or surfing intense waves.
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The website for Salt Life Beverage LLC, which owned the beer brand Salt Life also possessed, has since been removed.
You may still find information on the beer on the Total Wine website, despite the company’s website being removed: Salt Life lager is a modern take on the traditional American lager brewed in Florida, United States. The watermen’s way of life served as inspiration for our brew. Crisp, clean, and refreshing—this is the ideal American beer, it said.
Several factors contributed to the craft beer industry’s downfall during the COVID-19 epidemic, including the fact that many devoted beer lovers were stranded at home and that social distancing regulations prevented patrons from attending brewery and pub crawls.
U.S. beer shipments were predicted by Convenience.org to drop more than 5% in the first three quarters of 2023, and by the end of the year, to their lowest level in 25 years, based on data from Beer Marketer’s Insights (BMI).
Delta Apparel (DLA), the company that owns the Salt Life clothing brand, and Salt Life Beverage LLC both filed for bankruptcy on June 30.
Since its parent business also filed for bankruptcy, Salt Life Beverages LLC’s bankruptcy was largely collateral.
The Street says that both businesses submitted paperwork to the District of Delaware.