DELTA APPAREL, INC: restructuring charge — Delta Apparel exits DTG2Go unit, cuts 115 jobs, closes six facilities amid liquidity crisis

DELTA APPAREL, INC

Board approved plan to exit DTG2Go; production ceased June 13, 2024.
Workforce reduced by ~115 employees; facilities to close in Storm Lake, IA; Cranbury, NJ; Fayetteville, NC; Phoenix, AZ; LaVergne, TN; Miami, FL.
Largest DTG2Go customer ended sourcing; company in default on ABL credit facility.
Expects restructuring charges beginning Q3 FY2024; costs not yet estimable.
Also exploring potential sale of Salt Life business; evaluating all strategic options.

item 2.05

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.95

DELTA APPAREL, INC announced a restructuring affecting DTG2Go business unit (approximately 115 employees).

Type: restructuring
Affected area: DTG2Go business unit
Headcount: approximately 115 employees

Exact text from the filing

On June 12, 2024, the board of directors (the “Board”) of Delta Apparel, Inc. (the “Company”) approved a plan (the “DTG2Go Exit Plan”) to exit the DTG2Go business unit (“DTG2Go”) of the Company’s Delta Group operating segment.

View on SEC.gov

Browse all restructurings & charges →

Source: SEC EDGAR

accession 0001437749-24-020642

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.