Heads Up Brides To Be, David’s Bridal Files For Bankruptcy
One of the largest bridal retailers, David’s Bridal, filed for bankruptcy according to the Associated Press. This will be the second time David’s Bridal filed in the past five years….
NEW YORK, NY – NOVEMBER 19: Wedding dresses are displayed in a window at a David’s Bridal store in Manhattan on November 19, 2018 in New York City. The wedding dress retailer has filed for Chapter 11 bankruptcy protection on Monday. The company, which will continue to operate throughout bankruptcy, is coming to terms with changing consumer tastes in the wedding industry and a heavy debt load. (Photo by Spencer Platt/Getty Images)
Getty ImagesOne of the largest bridal retailers, David's Bridal, filed for bankruptcy according to the Associated Press. This will be the second time David's Bridal filed in the past five years. Previously, the company filed for bankruptcy in 2018 after being hit with growing debt and declining sales of wedding dresses. In 2019, it emerged from bankruptcy as it continued to remedy the situation.
The seller of gowns and formal wear also plans to lay off in phases that will stretch through August. Reports say that more than 9,000 employees will be terminated across David's Bridal’s 300 stores.
The retail company is based in Conshohocken, Pennsylvania. The company has about 300 stores in several states and employs more than 11,000 employees.
Meanwhile, U.S. Bankruptcy Judge Christine Gravelle in Trenton, New Jersey, on Monday allowed the company to borrow up to $10 million, which will be used to pay critical vendors, employee severance and other near-term costs.
What about current David's Bridal orders?
For brides awaiting orders, its stores will remain open and will continue to fulfill orders. It also appears, that the David's Bridal website is still available to help people with their wedding garment needs.
David's Bridal said in a statement that it would "fulfill all customer orders without disruption or delay," but might be forced to wind down operations if it cannot find a buyer. The company said its business has suffered in recent years due to the COVID-19 pandemic, decreased demand for wedding dresses and high inflation.
Some customers expressed their thoughts about the news on Twitter. "Who wants to wear the same dress as 200 other brides? It feels like an assembly line when you go in there," said one commenter.
While other customers said they were more concerned about the workers being laid off. "Sad to hear about David's Bridal filing for bankruptcy. Hoping a buyer will help save those 9,000 jobs and keep the bridal industry thriving!" said a Twitter comment.
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