Salt Life $38.7 Million Bankruptcy Sale on Hold for Re-Noticing

The $38.7 million sale of beachwear brand Salt Life was paused for a week after a Delaware bankruptcy judge said the company needed to provide more extensive notice of the proposed purchasers’ plan to wind down the retailers’ stores.

Creditors of brand owner Delta Apparel Inc. are entitled to a few more days to consider the company’s proposed sale of Salt Life to brand manager Iconix International Inc. and asset liquidation specialist Hilco Merchant Resources LLC, Judge Laurie Selber Silverstein of the US Bankruptcy Court for the District of Delaware said at a hearing Thursday.

Iconix and Hilco won a Chapter ...