David’s Bridal , Files for Bankruptcy Again.
NPR reports that on April 17, the wedding retailer announced it is filing for bankruptcy.
This is the second time in five years
that the company has done so.
David's Bridal also plans
to lay off 9,326 workers.
NPR reports that the company
became riddled with debt when it was purchased by a private equity firm in 2012.
David's Bridal tried to restructure that debt
when it filed for bankruptcy in 2018, but when the pandemic hit, less customers visited stores.
We have successfully modernized
our marketing and customer interaction processes and driven our retail
service levels to best in class, James Marcum, David's Bridal CEO, via 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, James Marcum, David's Bridal CEO, via statement.
David's Bridal says customers can still
place orders online and in stores.
Their rewards program, gift cards and other policies will continue to be honored