Top 40 Supplier Delta Apparel Files for Chapter 11 Bankruptcy and Sells Salt Life Brand
Delta Apparel, a top 40 supplier in the promotional products industry, has filed for Chapter 11 bankruptcy and has agreed to sell its Salt Life brand for $28 million. The company’s financial struggles, executive departures, and restructuring efforts have led to this decision. The bankruptcy filing will allow Delta Apparel to reorganize its assets and liabilities while continuing to operate. The sale of the Salt Life brand is subject to court approval and competitive bidding. Prior to the bankruptcy, the company experienced significant losses and saw a decline in sales, leading to the resignation of key executives. The future of Delta Apparel remains uncertain as it navigates through the Chapter 11 process.