Why Delta Apparel (DLA) Stock Is Halted During Monday's Session
Portfolio Pulse from Henry Khederian
Delta Apparel, Inc. (NASDAQ:DLA) shares are halted and trading lower after the company filed for Chapter 11 bankruptcy. The company and its subsidiaries will continue operations as debtors-in-possession and seek to sell assets or arrange strategic deals. They are also seeking debtor-in-possession financing from Wells Fargo and other lenders.
July 01, 2024 | 6:23 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Delta Apparel (DLA) has filed for Chapter 11 bankruptcy, leading to a halt in trading and a drop in share price. The company will continue operations as debtors-in-possession and seek to sell assets or arrange strategic deals. They are also seeking debtor-in-possession financing from Wells Fargo and other lenders.
The filing for Chapter 11 bankruptcy is a significant negative event for Delta Apparel, leading to a halt in trading and a drop in share price. The company's efforts to sell assets and secure financing indicate financial distress, which is likely to negatively impact the stock in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100