Phoenix Footwear’s sales plunged by 35.5 percent to $6.1 million for the quarter ended April 4, leaving the company with a loss of $3.0 million compared with a loss of $280,000 in the same period in 2008. The final figures include a severance charge of $1.0 million as well as a credit of $750,000 from the sale of Altama Delta. Losses from continuing operations were $2.7 million compared with $462,000 last year. Phoenix, which is currently in default on its loan, said that selling Altama Delta, ending its licensing deal with Tommy Bahama and collecting certain receivables would end up netting it $14 million in cash, more than enough to pay off the $7 million it owes.