Headlines

David’s Bridal Files for Bankruptcy

Move to Chapter 11 preceded by notice to lay off 9000 workers

Published

8 months ago

April 17, 2023

VMSD Staff

PHOTOGRAPHY: Courtesy of David’s Bridal

David’s Bridal LLC (Conshohocken, Pa.), has again filed for Chapter 11 Bankruptcy. Though the company says it will “continue operating in the ordinary course” of business, it had days earlier filed notice with the state of Pennsylvania that it plans to lay off 9200 of its 11,000 workers over the next three months, The Philadelphia Inquirer reports.

That move would appear to be in case the company is unable to find a buyer and has to close its stores, according to its Chapter 11 filing. This is the bridal and special occasion retailer’s second time in bankruptcy; the first was in 2018.

“Over the last several years, we have taken meaningful strides in our transformation to fulfill the needs of the brides of today and tomorrow,” said CEO James Marcum. “We have successfully modernized our marketing and customer interaction processes and driven our retail service levels to best in class.

“Nonetheless, our business continues to be challenged by the post-COVID environment and uncertain economic conditions, leading us to take this step to identify a buyer who can continue to operate our business going forward. We are determined to stay focused on our future, because we believe we have an important role in ensuring that every bride, no matter her budget, can have her perfect dress.”

The retailer has more than 300 stores, mostly in the U.S., along with a smaller number in Mexico and Canada.

Related Topics:chapter 11 David's Bridal

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