As part of a shift from brick-and-mortar to e-commerce and wholesale, apparel retailer Salt Life is closing all stores. It has one location in New Jersey.

The Sept. 24 announcement comes about three months after Salt Life’s parent company, Delta Apparel Inc., filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court for the District of Delaware. Delta Apparel cited higher costs as well as declining demand. The Georgia-based company listed debts and assets each in the $100 million to $500 million range.

As part of a court-run auction, brand management company Iconix International Inc. and business management consultant Hilco Merchant Resources acquired Salt Life’s assets earlier this month for $38.7 million. Other names in Iconix’s portfolio include Mossimo, Candies, Umbro and Zoo York.

Founded 20 years ago in Jacksonville Beach, Fla., Salt Life sold lifestyle apparel, swimwear and accessories in store, online and wholesale. Along with 28 stores across 10 states, Salt Life was sold at a number of chains, including Bass Pro Shops and Dick’s Sporting Goods.

Within New Jersey, Salt Life has a store on Ocean Avenue in Long Branch. 

Liquidation sales are already underway, offering up to 40% off on Salt Life-branded t-shirts, shorts, performance clothing, hoodies, tumblers and more.

Salt Life will accept merchandise returns and honor gift cards through Oct. 20.

In addition to overseeing store closings, Hilco will handle the sale of inventory from distribution centers. Retailers looking to restock their Salt Life inventory or interested in introducing the brand to their offerings should contact Hilco.