Delta Apparel’s Asset Sales and Speculative Stock Warning

The latest update is out from Delta Apparel ( (DLAPQ) ).

Delta Apparel, Inc. and its subsidiaries, including Salt Life, LLC and M.J. Soffe, LLC, after filing for Chapter 11 bankruptcy, have successfully auctioned their assets. Iconix International, Inc. and Hilco Merchant Resources, LLC purchased Salt Life’s assets for $35.94 million, with the deal closing on September 19, 2024. Similarly, Renfro LLC acquired Soffe’s assets for $15.3 million, finalizing the transaction the following day. Prior to these sales, a terminated agreement with FCM Saltwater Holdings, Inc. resulted in a breakup fee and expense reimbursement to FCM. Amidst these changes, the company warns that trading its stock is highly speculative and could lead to significant losses for investors.

Learn more about DLAPQ stock on TipRanks’ Stock Analysis page.