David’s Bridal filed for bankruptcy on Monday just days after laying off more than 9,000 workers nationwide.
The popular wedding dress retailer said its stores and e-commerce website will remain open during the financial restructuring process. David’s Bridal executives said they are trying to arrange a sale of the company. The Pennsylvania-based company, which filed for Chapter 11 bankruptcy, protection, listed between $100 million and $500 million in debt, according to court documents.
“We have successfully modernized our marketing and customer interaction processes and driven our retail service levels to best in class,” CEO James Marcum said in a statement. “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.”
This is a developing story.