The parent company of the Salt Life retail store chain filed for Chapter 11 bankruptcy, with plans to sell the brand in a court auction.
Duluth, Georgia-based Delta Apparel Inc. filed its Chapter 11 petition June 30 in U.S. Bankruptcy Court for the District of Delaware.
Before filing for bankruptcy, Delta agreed June 28 to sell Salt Life to FCM Saltwater Holdings Inc. for $28.03 million.