ST. LOUIS, Mo. — There’s another retail casualty in the works. David’s Bridal plans to file for bankruptcy. The company’s CEO released a statement saying the retailer is initiating a plan for a financial restructuring.
Nearly to $400 million in debt could be removed after chapter 11 bankruptcy is filed. David’s Bridal currently has over 300 stores.
The retailer plans to keep all of the stores open during the restructuring as well as complete dress orders and alterations.
This statement was posted to the company’s website:
To Our Valued Customer,
David’s Bridal has been the leader in the wedding industry for over 60 years. During that time, we’ve seen a lot of things change: fashion trends, where brides find inspiration and how customers shop. But one thing will always remain the same: our commitment to you, our customer.
To underscore this commitment, we have announced a plan to financially restructure David’s Bridal. This agreement allows us to guarantee no change in the service level our customers expect from us.
Our 300+ stores will continue operating, and all orders and alterations will be delivered as promised.
We are, and will continue to be, open for business.
We look forward to seeing you soon,