Dozens of Salt Life retail stores are closing across the country following the company's recent purchase.
One of the brand's new owners, Hilco Consumer-Retail Group, announced Tuesday that it will close all 28 retail locations.
The liquidation process is underway as new ownership plans to restructure the fashion company and plan for the brand’s future.
Salt Life is a lifestyle, restaurant, and clothing brand founded in 2003 in Jacksonville Beach, Florida.
Hilco, along with Iconix International, jointly purchased the Salt Life apparel chain after its former owner, Delta Apparel Inc., filed for Chapter 11 bankruptcy in June.
The two financial services companies paid $38.74 million to acquire the apparel chain.
The sale was confirmed on Thursday.
The new ownership is eliminating not only product stock and merchandise, but also store fixtures and displays.
Salt Life gift cards will be valid until October 20th this year.
The Salt Life Food Shake restaurant chain Salt Life is a separate entity from Lifestyle Brands and Delta's bankruptcy auction had no impact on the operations or ownership of the restaurant locations.
