08:10 AM EDT, 07/01/2024 (MT Newswires) -- Delta Apparel ( DLA ) said in a regulatory filing Monday that it and its subsidiaries have filed for Chapter 11 bankruptcy.

According to the filing, the company will continue to operate its businesses as a debtor-in-possession and pursue a structured sale of assets.

The company also said that on Thursday, Chief Accounting Officer and Treasurer Nancy Bubanich resigned from the company, effective July 26. Additionally, Glenda Hood and Sonya Medina have resigned from the company's board of directors effective immediately.

Shares of Delta Apparel ( DLA ) were down more than 33% in recent premarket activity.

Price: 0.3851, Change: -0.19, Percent Change: -33.60