As Previously Disclosed, Delta Apparel Continues To Explore Potential Sale Of Its Salt Life Business And Continues To Evaluate All Strategic Options And Alternatives
Portfolio Pulse from Benzinga Newsdesk
Delta Apparel is exploring the potential sale of its Salt Life business and evaluating strategic options. The company approved the DTG2Go exit plan due to market, operational, and liquidity challenges, including the loss of its largest customer. Delta Apparel's deteriorating liquidity is preventing it from purchasing raw materials and paying employee compensation.
June 18, 2024 | 8:22 pm
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Delta Apparel is considering selling its Salt Life business and has approved the DTG2Go exit plan due to significant market and liquidity challenges. The company is struggling with deteriorating liquidity, impacting its ability to purchase raw materials and pay employees.
The news indicates significant financial and operational challenges for Delta Apparel, including the potential sale of a business unit and an exit plan for another. These actions suggest a negative short-term impact on the company's stock price due to uncertainty and liquidity issues.
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IMPORTANCE 90
RELEVANCE 100