David’s Bridal Files For Chapter 11 Bankruptcy… Again (Shop Their Latest Sales)
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David’s Bridal has filed for Chapter 11 bankruptcy! Here’s what you need to know!
The largest bridal retailer in the USA just filed for bankruptcy for the second time.
David’s Bridal announced today that they have filed for Chapter 11 bankruptcy. The popular bridal shop has had a few rough years thanks to how COVID-19 and the struggling economy have changed the way couples are hosting weddings.
Post-pandemic, the demand for formal attire has decreased as many brides are opting for small, casual weddings. Others are saving money by using online or secondhand retailers over traditional formalwear stores like David’s Bridal. Both of these reasons were cited by the company in the bankruptcy filing that took place on April 17, 2023.
This is the second time David’s Bridal has filed for bankruptcy in the past 5 years, the first time being in 2018. This latest filing has come just after news broke that the company was laying off 9,000 workers, over 80% of its total staff.
David’s Bridal is looking for a possible buyer.
According to a recent press release, David’s Bridal is “exploring a sale of some or all of its assets.”
James Marcum, CEO of David’s Bridal released the following statement, “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. 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.”
While the company searches for potential buyers, it’s 298 stores are to remain open.
Will David’s Bridal continue to fulfill orders after filing for Chapter 11 bankruptcy?
You may be wondering how this news impacts engaged couples. For the time being, David’s Bridal stores and online platforms will stay open and operate as normal. The company vows to continue to fulfill orders without disruption or delay.
Gift cards, returns, and exchanged will also continue to be honored. Meanwhile, patrons who belong to Diamond, the company’s loyalty program, can continue to earn and redeem rewards.
However, should David’s Bridal fail to find a buyer or turn their situation around, their stores may need to close for good.
Will David’s Bridal employees continue to be paid?
What we know at this time is that the company is seeking “first day relief” from the court in order to pay employee wages and benefits.
Take advantage of these HOT David’s Bridal sales that are going on right now!
David’s Bridal stores are remaining open and the company is currently hosting a ton of sales. Head to the David’s Bridal hot deals page to redeem any of the below offers.
At the time of this article, customers can score these amazing deals:
- Save up to 50% on prom dresses (through 4/24/2023)
- $20 off regular priced prom dresses for Diamond members (through 5/22/2023)
- Score bridesmaid dresses for under $100 (through 5/1/2023)
- Snag 40% off clearance dresses and accessories (through 5/1/23)
- Diamond members purchasing a dress can get up to 20% off accessories, shoes, jackets, and wraps (through 5/1/2023)
- Get up to 60% off flower girl markdowns (through 5/1/2023)
- Snag final sale wedding dresses as low as $99.98 (through 5/1/2023)
- Score FREE shipping on orders $120+ (ends 6/5/2023)
- Scoop up an initial necklace and candle for just $1.12 (through 5/1/2023)
- Take $5 off The Essential garment bag (through 5/1/2023)
- Receive a FREE Time to Shine or I Found The One garment bag with the purchase of a wedding dress (through 5/1/2023)
- High school kids can apply to win a $1,000 scholarship (through 6/1/2023)
- Customers get an extra 10% off everything thanks to the Family & Friends sale (ends today!)
- Get 10% off regular wedding dresses priced $500 to $999 and 15% off dresses priced $1000+ (ends today!)
- Get up to 15% off Galina Signature, Oleg Cassini, and Melissa Sweet dresses (ends today!)
Brides can also enter to win a wedding dress. Sign up for this offer on the David’s Bridal website.