Delta Apparel, which owns beachwear brand Salt Life and active wear label Soffe, has filed voluntary petitions under Chapter 11 of the US Bankruptcy Code, intending to sell its assets.
The firm, which has $244.5 million in total debt, attributed its financial troubles to a rise in cotton prices and other raw materials, and diminished demand for its products.Delta Apparel, which owns beachwear brand Salt Life and active wear label Soffe, has filed voluntary petitions under Chapter 11 of the US Bankruptcy Code, intending to sell its assets.
The firm, which has $244.5 million in total debt, attributed its financial troubles to a rise in cotton prices and other raw materials, and diminished demand for its products.
