Famous formal wear-retailer David’s Bridal has filed for bankruptcy for the second time in five years.
David’s Bridal’s latest Chapter 11 bankruptcy filing comes days after the company announced it would lay off 9,236 workers nationwide, according to the Pennsylvania Department of Labor & Industry.
The Conshohocken-based company previously filed for bankruptcy protection in 2018, but bounced back a year later.
“We have successfully modernized our marketing and customer interaction processes and driven our retail service levels to best in class,” said James Marcum, chief executive officer of David’s Bridal. “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.”
Local David’s Bridal store details:Only Delaware David’s Bridal is moving from Prices Corner
Winning idea:How a Milford paper flower business evolved into a creative space for craft lovers
‘Continue operating in the ordinary course’
In the statement released just after midnight, the company said it “intends to continue operating in the ordinary course, including by fulfilling all customer orders without disruption or delay,” including the continuance of service through its online platforms.
As part of the bankruptcy filing, the company seeks customary “first day” relief from courts. This includes authorization to continue paying employee wages and benefits, maintaining customer programs and honoring obligations to critical vendors.
“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,” said Marcum in a statement.
Delaware’s only David’s Bridal location is in the Christiana Fashion Center, across from the Christiana Mall, in Christiana.
Got a tip or a story idea? Contact Krys’tal Griffin at kgriffin@delawareonline.com.
