David’s Bridal, the largest bridal retailer in the U.S., has filed for bankruptcy and announced plans to lay off more than 9,000 employees across the country. In a statement, the company insisted that both its retail stores and website will continue to operate as its financial restructuring takes place, many customers are still panicking over whether or not they’re going to get their wedding gowns. Thankfully, it seems like an unnecessary worry.
“Delivering every order on time remains our singular focus, and we plan to continue to do so at the highest levels throughout this process,” the FAQ section of the company’s website states. If brides to have specific questions, they’ve been encouraged to call 1-844-400-3222 or text HELLO to 38201. David’s Bridal customer service can also be reached via email at [email protected].
James Marcum, Chief Executive Officer of David’s Bridal, admits that the company has been experiencing challenging times since the COVID-19 pandemic. However, he believes the best days are still to come. Not only that, but he says it remains committed to making brides’ wedding days as magical as possible.
“We have successfully modernized our marketing and customer interaction processes and driven our retail service levels to best in class,” he explained. “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.”
Marcum added: “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.”
Why did David’s Bridal file for Chapter 11 bankruptcy?
David’s Bridal operates 294 stores in 49 U.S. states, Canada, and the United Kingdom. It’s long been a favorite of brides-to-be, with even celebrities choosing the retailer to purchase their dream wedding gown.
According to court documents obtained by CBS, David’s Bridal has $257 million in debt that it cannot repay. The company attributed its financial troubles to “shifting consumer preferences.” It also pointed out that many brides are forgoing traditional gowns or purchasing them second-hand rather than buying new ones.
CNN reports that if a buyer doesn’t come forward in the coming months, David’s Bridal will have to close all of its stores and liquidate its assets. In the meantime, it will lay off 9,236 employees across the United States through April 2023. There are over 11,000 employees at the company in total.
This is not the first time David’s Bridal has filed for bankruptcy. The first filing came in November 2018, with the company being purchased by a lending group that includes Oaktree Capital Group roughly two months later. It remains to be seen whether a new owner will take over in the coming months.