Dozens of Salt Life retail stores across the country will close as a result of the company's recent acquisition.
One of the brand's new owners, Hilco Consumer Retail Group, announced Tuesday that it would close all 28 of its retail stores.
Liquidation is underway as new management plans to restructure the fashion company and develop a plan for the brand's future.
Salt Life is a lifestyle, restaurant and clothing brand founded in 2003 in Jacksonville Beach, Florida.
Hilco, along with Iconix International, acquired the Salt Life clothing line after previous owner Delta Apparel Inc. filed for Chapter 11 bankruptcy protection in June.
The two financial services companies paid $38.74 million for the apparel line.
The sale was confirmed Thursday.
The new owners are disposing of product inventory and merchandise as well as store fixtures and displays.
Salt Life gift cards are available until October 20th of this year.
Salt Life Food Shack Restaurant Chains is a separate entity from the Salt Life lifestyle brand, and Delta's bankruptcy auction did not affect the operation or ownership of the restaurants.
