Popular Outdoor Store Now Closing All Texas Locations
Brick-and-mortar stores were already beginning to decline before COVID, but we've seen a dramatic shift to online shopping since, this has led to a big upswing in physical stores shutting down for good.
Additionally, smaller businesses have seemed to have taken it on the chin, finding it harder to compete in the past few years. But big business isn't shielded.
Data from the U.S. Courts shows a 16.2% rise in total bankruptcy filings as of June 2024, for big and small businesses, and it's not over, BankruptcyWatch reports that Chapter 11 business filings could continue rising this year due to inflation and interest rate pressures.
Another brand will soon be closing down all of its physical stores in the wake of filing for bankruptcy.
Salt Life is a lifestyle, restaurant, and clothing brand that was founded in 2003 in Jacksonville Beach, Florida. This summer the company filed for bankruptcy.
Salt Life's parent company, Delta Apparel Inc. filed for Chapter 11 bankruptcy in June of 2024. During the subsequent bankruptcy auction, the beach brand was purchased by Iconix International Inc.
The first move by Iconix is to close all of the physical Salt Life stores across all ten states, including both Texas stores located at 5885 Gulf Fwy, Texas City, TX 77591, and 1506 TX-100, Port Isabel, TX 78578. Next a revamping of the brand.
Currently, you can participate in the company's liquidation sales which started last month across all 28 Salt Life locations. Big savings right now as customers can purchase discounted merchandise for up to 40% off. If you've got any Salt Life gift cards, you've got until October 20th to use them.