(Bloomberg) — Beachwear brand Salt Life has multiple bidders interested in rescuing the company from bankruptcy but the company’s related active wear business will be liquidated, a lawyer said in court Thursday.
No bidders were willing to take on all of the Delta side of the company, attorney Jeremy R. Johnson told the judge overseeing the company’s insolvency case in Wilmington, Delaware. A limited number of offers came in for pieces of the Delta business, not enough to save the operations, Johnson added.
“The good news is we’re not going to be canceling the auction,” Johnson said in court. “The bad news, we don’t have bidders for everybody.”
The parent of both sides of the business, Delta Apparel Inc., was in court…
