---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-021637"
form_type: "8-K"
ticker: null
cik: "0001101396"
company_name: "DELTA APPAREL, INC"
filed_at: "2024-07-01T23:59:59+00:00"
generated_at: "2026-05-31T23:56:04.074241+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Delta Apparel files Chapter 11; enters $28M stalking horse sale of Salt Life assets

## Summary
- Chapter 11 petitions filed June 30, 2024 by Delta Apparel and domestic subsidiaries, including Salt Life LLC.
- Stalking horse APA with FCM Saltwater Holdings for Salt Life assets: $28.03M cash, subject to higher bids and court approval.
- Two directors (Hood, Medina) and CAO/Treasurer Bubanich resigned immediately before filing.
- Company warns common stock likely zero recovery; expects delisting from NYSE American.
- Pre-petition credit facility accelerated; DIP financing sought from Wells Fargo to fund operations.

## SEC filing metadata
- accession: 0001437749-24-021637
- form_type: 8-K
- cik: 0001101396
- company_name: DELTA APPAREL, INC
- filed_at: 2024-07-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 1.03, 2.04, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1101396/000143774924021637/0001437749-24-021637-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1101396/000143774924021637/dla20240619_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-021637
- JSON: https://secwatch.observer/filing/0001437749-24-021637.json
- Plain text: https://secwatch.observer/filing/0001437749-24-021637.txt

## Key facts
- Distress & Bankruptcy
  DELTA APPAREL, INC entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2024-06-30).
  - Proceeding: chapter 11
  - Court: United States Bankruptcy Court for the District of Delaware
  - Petition: 2024-06-30
  source text: On June 30, 2024 (the “Petition Date”), Delta Apparel, Inc. (the “Company”) and its domestic direct and indirect subsidiaries (collectively with the Company, the “Debtors”), including Salt Life Beverage, LLC and Salt Life, LLC (“Salt Life”), filed voluntary petitions (the “Chapter 11 Cases”) under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1101396/000143774924021637/0001437749-24-021637-index.htm
- Executive change
  Sonya E. Medina resigned as Director at DELTA APPAREL, INC.
  - Action: resigned
  - Role: Director
  source text: On June 29, 2024, Sonya E. Medina resigned from service on the Board and all subcommittees of the Board effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1101396/000143774924021637/0001437749-24-021637-index.htm
- Executive change
  Glenda E. Hood resigned as Director at DELTA APPAREL, INC.
  - Action: resigned
  - Role: Director
  source text: On June 28, 2024, Glenda E. Hood submitted her resignation from service on the Company’s Board of Directors ("Board") and all subcommittees of the Board, effective as of June 30, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1101396/000143774924021637/0001437749-24-021637-index.htm
- Executive change
  Nancy P. Bubanich resigned as Vice President, Chief Accounting Officer, and Treasurer at DELTA APPAREL, INC.
  - Action: resigned
  - Role: Vice President, Chief Accounting Officer, and Treasurer
  source text: On June 27, 2024, Nancy P. Bubanich notified the Company of her decision to resign from her position as Vice President, Chief Accounting Officer, and Treasurer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1101396/000143774924021637/0001437749-24-021637-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.