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Before the Covid pandemic, beer was very popular. It seemed like every city was adding craft breweries and everyone understood the language of the popular drink.
It wasn’t uncommon to find people talking about their beer being “too hoppy” or “not hoppy enough,” but if they didn’t like the beer there was probably another brewery a few doors down.
Related: Troubled Clothing Company Files for Chapter 11 Bankruptcy
You also didn’t have to visit a brewery to find an interesting beer. Many local breweries found regional distribution, and some companies struck national deals to bring a variety of beers to liquor stores across the country.
But the Covid pandemic has hurt the industrial beet business in several ways. First, beer drinkers have been confined to their homes and not allowed to wander into breweries/pubs due to social distancing rules.
Second, the beer boom has simply slowed as some younger beer drinkers embrace non-alcoholic beverages, while other drinks take over part of the market.
“According to data from Beer Marketer’s Insights (BMI), U.S. beer shipments are expected to fall to a 25-year low by the end of 2023 — after falling more than 5% in the first three quarters of the year,” Comfort.org It has been reported.
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But the latest beer company to file for Chapter 11 bankruptcy may have none of those factors. Instead, it appears to be the collateral damage of its parent company’s bankruptcy filing.
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Salt Life is owned by Delta Apparel.
Salt Life, owned by Delta Apparel, which recently filed for Chapter 11 bankruptcy protection, is a lifestyle brand focused on swimwear and related apparel. The company has used the hashtag #GetSalty and has a sort of patriotic-meets-Jimmy Buffett vibe.
Related: Retail brand with 29,000 locations files for Chapter 11 bankruptcy
“Our brand began as stickers and we have sold over 2 million stickers to our loyal customers. Today, Salt Life is more than just a logo; it represents a passion for the ocean, the salty sea air and most importantly, a lifestyle. Founded by four watermen from Jacksonville Beach, Florida, Salt Life has captured the attention of ocean enthusiasts around the world and has become one of the leading lifestyle brands today,” the company says on its website.
The brand is not only designed to look good, but is also designed to be functional and meet the demands of the environment.
“Our team of passionate watermen have helped test Salt Life apparel, designed to withstand the rigors of saltwater sports,” the company added. “Whether you’re out fishing for marlin, diving to explore a shipwreck, or riding the waves, our unmistakable dedication to providing quality products ranging from apparel, performance gear, sunglasses, accessories, and even the ubiquitous stickers, we have something for everyone who lives the Salt Life.”
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Salt Life also had a beer brand.
Salt Life also produced beer under a separate company. The beer brand’s website has been shut down, but descriptions of the beers can be found on the Total Wine website.
“USA, Florida: Salt Life is a fresh interpretation of the classic American beer. Salt Life is inspired by those who live the sailor’s lifestyle. This is the quintessential American beer; crisp, clean and refreshing,” he shared.
Salt Life Beverage LLC declared bankruptcy on June 30, the same day Delta Apparel declared bankruptcy. (to) which owns the Salt Life clothing brand. Both companies have filed in Delaware County.
More bankruptcy:
- Popular bakery chain unexpectedly files for Chapter 11 bankruptcy
- Troubled housing company declares Chapter 7 bankruptcy, plans to liquidate
- Popular Restaurant Chain Spreads Bad News About Chapter 11 Bankruptcy
The beer company said in its Chapter 11 bankruptcy filing that it has assets of between $50 million and $100 million and liabilities of between $500,000 and $100 million. It also said it expects to have to make unsecured payments.
Salt Life Beer is a joint venture between Delta Apparel and “an entity owned by Richard Thompson, the original founder of the Salt Life brand, and Greg Tuttle, an award-winning craft beer brewer,” according to a press release.
Delta Apparel was the largest shareholder in the project, and its filing likely forced Salt Life Beverage to file despite its apparently strong financial position.
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