A BELOVED beach brand will close down all 28 locations and switch its retail strategy.
The Salt Life retailer has 28 stores across 10 states but will pivot to e-commerce and wholesale after parent company Delta Apparel Inc. was sold to brand management companies Iconix International and Hilco.
Delta Apparel Inc. was purchased by the companies after its bankruptcy filing which includes the brand and its related assets, according to the court document.
Salt Life stores have begun liquidation sales at all locations including items from its distribution centers.
Shoppers will see sales up to 40% on items like tees, shorts, performance clothing, hoodies, tumblers and more.
Additionally, customers can also purchase store fixtures and equipment at cheaper prices.
The company said in a statement that gift cards will only be accepted for the first 30 days of the sale and will be denied use on October 20, 2024.
Any returns purchased prior to September 20th, 2024, will also be accepted for the first 30 days of the sale and will end on October 20, 2024.
Just note that all sales made on or after September 20, 2024, are final.
The U.S. Sun contacted Hilco for the exact closure dates but has not immediately heard back.
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
A LITTLE HISTORY
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.
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.
Bankruptcy documents reveal the main source of conflict was declining liquidity and demand.
The U.S. Sun has also reported on various store closures.
For example, Kmart will close down its last full-sized store in just weeks.
Plus, Bob’s Stores also filed for bankruptcy and led to multiple closures.
