ONE of America’s top beach brands has confirmed the timeline of its upcoming store closures which are set to begin in the coming weeks.
The popular Salt Life retailer has 28 stores across 10 states but has been forced to switch strategies after facing a bankruptcy bloodbath – leaving all its shops to be closed down for good.
Popular beach brand Salt Life has announced the timeline of their 28 store closures[/caption]
Management has decided to pivot to e-commerce and wholesale after their parent company Delta Apparel Inc. was sold to brand management companies Iconix International and Hilco.
All 28 stores have begun liquidation sales with discounts of up to 40 per cent.
Shoppers will see sales on items like t-shirts, shorts, performance clothing, hoodies, tumblers and more.
Additionally, customers can also purchase store fixtures and equipment at much cheaper prices than usual up until at least the end of October.
A spokeperson for Salt Life told The Sun: “As of today, the plan is for the Salt Life closing sale in stores to run beyond October.
“Close dates will be dependent on remaining inventory and could vary by location.
“Customers are encouraged to shop often as new merchandise may be arriving in stores and its never too early to start holiday shopping!”
It is still unclear when each individual shop will officially be closed for good.
FULL CLOSURE LIST
ACCORDING to a statement, the 28 closures will be across 10 states and include the following:
- 2601 S McKenzie St. #448 Foley AL 36535
- 207 Main St Huntington Beach CA 92648
- 157 Avenida Del Mar San Clemente CA 92672
- 34986 Midway Outlet Dr. #123 Rehoboth Beach DE 19971
- 410 Plaza Real Boca Raton FL 33432
- 1100 Cornerstone Blvd #910 Daytona Beach FL 32117
- 10676 Emerald Coast Pkwy W Space 136 Destin FL 32550
- 10801 Corkscrew Rd. #164 Estero FL 33928
- 713-A E Las Olas Blvd Fort Lauderdale FL 33301
- 240 3rd St. Jacksonville Beach FL 32250
- 128 Breakwater Ct, Suite 200 Jupiter FL 33477
- 404 Duval St. Key West FL 33040
- 2312 Grand Cypress Dr. Suite 852 Lutz FL 33559
- 8001 S Orange Blossom Trail #252 Orlando FL 32809
- 3101 PGA Boulevard Suite P237 Palm Beach Gardens FL 33410
- 421 SW 145th Terrace Pembroke Pines FL 33027
- 3405 Pier St Pompano Beach FL 33062
- 16 S Boulevard of the Presidents Sarasota FL 34236
- 2700 FL-16 Suite 713 St. Augustine FL 32092
- 1104 Broadway Columbus GA 31901
- 80 Ocean Ave. N. Long Branch NJ 07740
- 1215 The Arches Cir. Deer Park NY 11729
- 1220 Tanger Mall Dr. Riverhead NY 11901
- 1256 Fording Island Rd. Suite 275 Bluffton SC 29910
- 316 King St. Suite A Charleston SC 29401
- 10835 Kings Rd #720 Myrtle Beach SC 29572
- 5855 Gulf Fwy Texas City TX 77591
- 5711 Richmond Rd. Suite B030 Williamsburg VA 23188
Salt Life was founded in 2003 in Florida and began as a graphic decal, it then grew into a brand passionate about the ocean and saltwater sports.
The brand’s apparel includes offshore fishing and surfing gear, diving, and paddleboarding.
Products were designed to withstand the harsh conditions of the sea while combining function with fashion.
It later expanded to swimwear, sunglasses, bags, and accessories.
Salt Life even branched out into restaurants and beer.
However, its parent company began struggling financially which ultimately forced the company to scale back operations.
Bankruptcy documents reveal the main source of conflict was declining liquidity and demand.
The U.S. Sun has also reported on various store closures.
Natural Grocers shoppers at the outlet store in Denver, Colorado are set to begin their final trips to the store soon.
Bosses have announced huge discounts on items after making the decision to close down the location due to the impact of crime.
Stop & Shop has also announced it will shut 38 locations in weeks with some closing their doors earlier than expected.
The closures are part of the company’s growth strategy, and it will continue to operate more than 350 stores across five states: Connecticut, Massachusetts, Rhode Island, New York, and New Jersey.
How does bankruptcy work?
BANKRUPTCY is a specific legal process that helps companies eliminate debt they can’t repay.
The process allows businesses to start fresh and gain access to new credit.
Supervised by federal courts, bankruptcies allow a company to sell off its assets more easily to pay off creditors, according to Investopedia.
Chapter 11, a common process for companies, is used to restructure a business with the goal of remaining open – even if it means selling off most of the company’s properties.
Chapter 7, on the other hand, sells all of a company’s assets, putting it out of business.
Chapter 15, alternatively, allows for collaboration between American and foreign courts to conduct bankruptcy proceedings with “parties of interest involving more than one country,” per the United States Courts.
