Salt Life, an outdoor apparel and accessory store for all sorts of saltwater-related activities, has announced it will begin closing stores following bankruptcy and acquisition.
Salt Life filed for a Chapter 11 bankruptcy in a Delaware court during the summer.
The filing showed that Salt Life had amassed over $38 million in debts. The company’s top five creditors were owed a combined $29 million.
In September, Salt Life’s parent company, Delta Apparel, was sold in a bankruptcy auction for $39 million, which the court approved. The sale includes the Water Life brand and its related assets.
The company’s new owners are Iconix International, a brand management firm, and Hilco, a business management consultancy.
Hilco announced the closure of all 28 locations across 10 states on Tuesday.
As part of the restructuring, Hilco and Iconix intend to shift Salt Life’s focus toward wholesale and e-commerce.
“The Salt Life brand has widespread brand awareness and loyalty with ocean enthusiasts worldwide,” Hilco said.
The company added that liquidations began on Sept. 20, with savings of up to 40 percent offered on stock inventory items, including tees, shorts, performance clothing, hoodies, tumblers, etc.
Hilco urged customers “to take advantage of these significant savings immediately while selections are best,” adding that store fixtures and equipment are also for sale at discounted prices.
Gift cards and returns will be accepted until Oct.20, the company said.
Inventory stocked at distribution centers will be sold wholesale and managed through Hilco.
Salt Life’s 28 retail stores are located in Alabama, California, Delaware, Florida, Georgia, New Jersey, New York, South Carolina, Texas, and Virginia.
Salt Life’s History
Founded by four “watermen” from Jacksonville Beach, Florida, Salt Life began as a grassroots apparel brand before expanding into performance gear, swimwear, and accessories and later launching its restaurants serving tropical-inspired food and drinks.
The company’s bio says that Salt Life was “more than just a logo; it represents a passion for the ocean, the salt air, and most importantly, a way of life.”
The company also teamed up with organizations devoted to protecting oceans and ocean life.
Delta Apparel acquired the Salt Life brand for $37 million in 2013.
Michael Hutto, one of Salt Life’s cofounders, was sentenced to 12 years in prison in 2023 for the 2020 fatal shooting of his 18-year-old girlfriend, Lora Grace Duncan.