Wedding season is ramping up, so the timing could not have been worse for nervous brides counting on David’s Bridal to be their one-stop shop, but the national bridal retailer has filed for Chapter 11 Bankruptcy protection… again.
According to Business of Fashion, David’s Bridal has filed for bankruptcy with the threat of shutting down all locations by July if it can’t find financial backing. Although there has been an increase in weddings since the pandemic, apparently the bridal company has still been unable to pay off its accumulated debt.
The company’s previous bankruptcy filing allowed it to cut $434 million in debt, but the pandemic and temporary bans on in-person events began to hurt the company nearly as soon as it emerged from Chapter 11, according to court documents. According to Bloomberg, “David’s listed its assets and liabilities of $100 million to $500 million in its bankruptcy petition.”
The company has reportedly assured that all customer orders will continue to be fulfilled on time, but still, it’s got to be a cause for concern for anyone trying to ensure their important day comes off without a hitch. Perhaps brides-to-be should plan on getting their dress and trousseau before July, just to be safe.
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