David’s Bridal Files For Bankruptcy, Though They Assure Your Dress Is Safe

November 20, 2018
Bridal Shop, Wedding Dress, Bride, Red Floor
Categories: 

The nation’s largest wedding retailer has filed for Chapter 11 Bankruptcy protection, but they have no plans to stop operating anytime soon.

David’s Bridal is evidently facing hundreds of MILLIONS of dollars of debt from a private-equity buyout years ago, along with and a surge of digital competition.

Despite this news, however, David’s Bridal is assuring that there is no need to alter your future wedding plans.  The company says that thanks to support from key lenders, its 300 stores and website will continue to remain fully operational.  According to the retailer, “Orders will arrive on time and bridal appointments will not be impacted.”

David’s Bridal has been hit hard by an increasing trend of Americans just not wanting to get married anymore.  The number of new marriages per 1,000 Americans was down from 8.2 in 2000 to 6.9 in 2016, which resulted in a loss of about 16% of sales.  Still, the company has no plans of going under.  CEO Scott Kelly said in a statement, “For more than 60 years, David's has delivered beautiful, high-quality dresses and accessories for our customers' most special occasions, and the actions we are taking will enable us to build on that tradition.  Our team is laser-focused on providing brides and their families with the five-star service and experience they deserve and have come to expect from us.”

Via WFAA