🌺 Da Wedding Dress Woes: David’s Bridal Bankrupt Again, Stay Lookin’ Fo’ Buyah 💍
David’s Bridal, da store dat stay claimin’ dey sell one out of three wedding dresses in da U.S., wen file fo’ Chapter 11 bankruptcy on Monday an’ said dey “intend fo’ keep on explorin’ one sale of all or some of dea assets.” 😟💔
Da company stay plannin’ fo’ keep dea 300 or so stores open during da process, but dey stay addin’ dat dey goin’ fo’ evaluate dea store base. Dey also sayin’ dey goin’ fulfill all da customahs’ orders, one supah sensitive kine ting fo’ one retailah wea da shoppers get da weddin’ day deadline. ⏳👰
Dis da second time in almost five years dat David’s Bridal wen file fo’ bankruptcy protection. On Monday, da retailah said dey lookin’ fo’ get permission fo’ honor dea obligations to da important vendors, keep some of dea customah programs, an’ continue fo’ pay dea employees’ wages an’ benefits. 💵🛍️
James Marcum, da CEO of David’s Bridal, which wen start in 1950, said da retailah wen modernize dea business since dey wen come out from dea first bankruptcy in 2018. In 2022, plenny weddings wen happen all ovah da country 🎉— almost 2.5 million, da most in four decades — but da pandemic wen change how plenny peeps dress fo’ da events, an’ dat wen hurt David’s Bridal. 😷👗
Da retailah stay hiring da law firms Kirkland & Ellis an’ Cole Schotz, da investment bank Houlihan Lokey, an’ da investment firm BRG fo’ help wit’ one possible sale. 🏦💼
“Our business stay bein’ challenged by da post-Covid environment an’ da unsure economic conditions, makin’ us take dis step fo’ find one buyah who goin’ continue fo’ run our business goin’ forward,” Mr. Marcum said in one statement. “We stay determined fo’ stay focused on our future, cuz we believe we get one important role fo’ make shua dat every bride, no mattah her budget, can get her perfect dress.” 👰💕
Befo’ da bankruptcy filing, David’s Bridal wen start cuttin’ thousands of jobs. Dey said dey plan fo’ lay off 9,236 employees all ovah da nation, accordin’ to one notice dat da retailah wen file to da Pennsylvania Department of Labor, wit’ layoffs stayin’ till August. 😢👩💼
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💍 The Wedding Dress Woes: David’s Bridal Bankrupt Again, are Now Looking for Buyer’s 🌺
David’s Bridal, the store that claims to sell one out of three wedding dresses in the U.S., filed for Chapter 11 bankruptcy on Monday and said they “intend to continue exploring a sale of all or some of their assets.” 😟💔
The company plans to keep their 300 or so stores open during the process, but they added that they will evaluate their store base. They also said they will fulfill all customers’ orders, a highly sensitive matter for a retailer where shoppers face the wedding day deadline. ⏳👰
This is the second time in nearly five years that David’s Bridal has filed for bankruptcy protection. On Monday, the retailer said they are seeking permission to honor their obligations to important vendors, maintain some of their customer programs, and continue to pay their employees’ wages and benefits. 💵🛍️
James Marcum, the CEO of David’s Bridal, which was founded in 1950, said the retailer modernized their business since emerging from their first bankruptcy in 2018. In 2022, numerous weddings took place across the country 🎉— almost 2.5 million, the most in four decades — but the pandemic changed how many people dressed for the events, and that hurt David’s Bridal. 😷👗
The retailer has hired law firms Kirkland & Ellis and Cole Schotz, investment bank Houlihan Lokey, and investment firm BRG to help with a possible sale. 🏦💼
“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,” Mr. Marcum said in a statement. “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.” 👰💕
Before the bankruptcy filing, David’s Bridal began cutting thousands of jobs. They said they plan to lay off 9,236 employees nationwide, according to a notice that the retailer filed with the Pennsylvania Department of Labor, with layoffs continuing until August. 😢👩💼
