Topline
David’s Bridal, the one-stop shop for wedding attendees and prom-goers alike, filed for Chapter 11 bankruptcy Monday for the second time in less than five years, just days after the company announced more than 9,000 layoffs.
David’s Bridal filed for bankruptcy protection Monday, April 17, 2023 the second time that the firm … [+]
Key Facts
David’s Bridal stores will remain open “without disruption or delay” as the company explores a sale of some or all assets, it said in a press release.
The retailer laid off 9,236 positions across the United States Friday, according to a notice filed to the Pennsylvania Department of Labor, the state where the company is headquartered.
CEO James Marcum said the need for a new buyer of David’s Bridal was derived from the recent uncertain economic conditions and the post-Covid environment.
The company, founded in 1950, previously filed for bankruptcy in 2018.
This is a developing story and will be updated.
Further Reading
2023 Layoff Tracker: Best Buy Cuts Hundreds Of Jobs (Forbes)
David’s Bridal Laying Off Over 9,000 Workers (CNN)
Source: https://www.forbes.com/sites/anafaguy/2023/04/17/davids-bridal-files-for-chapter-11-bankruptcy/