A beloved clothing chain is closing all of its stores – but not before slashing its prices in a huge clearance sale.
Salt Life, the beach clothing store loved by surfers and fishers, will close all of its 28 locations across ten states, it announced on Tuesday.
Founded in 2003, the Florida-based retailer grew rapidly to become a rival to established surfing, beach and fishing brands like Billabong, Hurley, Quicksilver and Rip Curl.
But the retailer was forced to file for Chapter 11 bankruptcy in June and hoped to cut costs and reduce debts to stay in business.
Liquidation sales began at all Salt Life locations, including its flagship store in Jacksonville Beach, on September 20 and promise discounts of up to 40 percent.
‘Customers are encouraged to take advantage of these significant savings immediately while selections are best,’ the brand’s new owners said.
Salt Life, founded in 2003, filed for Chapter 11 bankruptcy in June. A company that bought it out is now closing all its stores and will operate the brand online only
As well as the brand’s much-loved fishing, surf and beachwear the store’s fixtures and equipment are also for sale, according to the release.
Salt Life’s parent company Delta Apparel said it had experienced reduced demand for its products and had difficulty getting hold of the necessary raw materials needed to make its goods, which resulted in a decline in liquidity.
The brand and its assets was bought at auction for $38.74 million by Hilco and Iconix International Inc.
The companies now plan to transition the brand away from bricks-and-mortar stores and into a wholesale and e-commerce business.
‘The Salt Life brand has widespread brand awareness and loyalty with ocean enthusiasts worldwide,’ Hilco said in a statement announcing the closures.
‘An organized wind-down of many operational functions will take place over the course of the next few months to aid in the transition.’
Store closing sale signs have been spotted across the brand’s stores and customers have been keen to pick up bargains.
Clothing bought before September 20 can be returned until October 20, but all sales made on or after September 20 are final.
Salt Life Gift cards will also be accepted until October 20.
No final end date for the store closures has yet been given but it is expected to be completed in the next few months.
The Florida-based brand was loved by surfers and fishers as well as general beachgoers
2024 has been something of a retail apocalypse for brands with physical stores.
There have been almost 2,600 store closures in the first half of the year alone.
Earlier this summer Bob’s Stores, which sold athletic and casual clothing across six states, also shut all of its 21 stores.
Walmart has closed three more of its underperforming locations, while Rite Aid is shutting another 27 pharmacies.
Dollar stores have been hit hard too, with 99 Cents Only announcing in April it would shutter all 371 of its locations across California, Texas, Arizona and Nevada.
Similarly, 1,000 Family Dollars and Dollar Trees will permanently shut over the next few years.
