Delta Apparel: Real Estate Deal Halted, Executives Depart

Delta Apparel (DLA) has issued an announcement.

Elkay Partners, NY LLC has terminated the $23.5 million sale and leaseback agreement for Delta Apparel, Inc.’s 35-acre Fayetteville campus, foregoing the conditions including a long-term leaseback deal. Meanwhile, Delta Apparel sees the departure of two executives, with Justin M. Grow moving his resignation up to June 5, and Matthew J. Miller resigning as President of Delta Group on June 6. No penalties were incurred by Delta Apparel due to the contract termination, and no material relationships exist between the company and Elkay Partners beyond this deal.

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