David’s Bridal, the largest wedding dress retailer in the U.S., filed for Chapter 11 bankruptcy on Monday and said it is seeking a buyer for its business.
This is the company’s second bankruptcy filing in five years.
- David’s Bridal pointed to the impact of the COVID-19 pandemic on its business, along with a decreased demand for wedding dresses and high inflation.
- The company said it plans to fulfill all customer orders without disruption or delay but would be forced to shut down its operations if it is unable to find a buyer.
- David’s Bridal has about 294 stores and 10,000 employees.
- The company is looking to borrow up to $10M for critical vendor invoices, employee severance, and other near-term costs.
