David’s Bridal Files for Chapter 11 bankruptcy

The company first filed for bankruptcy in November 2018, wiping out more than $400 million in long-term debt. It emerged from bankruptcy three months later with a revamped marketing plan targeting millennial brides. However, David’s Bridal has continued to struggle, announcing plans to cut at least 9,000 jobs across the U.S.

just days before filing for bankruptcy again. David’s Bridal was founded in 1950 as a small bridal salon in Fort Lauderdale, Florida. South Floridian entrepreneur Phil Youtie purchased the salon in 1972 and expanded the business to 18 boutiques by 1988. Today, the company operates around 300 stores across the U.S.

and claims to sell one in every three bridal gowns in the country. Filing for Chapter 11 bankruptcy allows a company to stay in business and restructure its obligations. In this case, David’s Bridal is looking to sell the company while continuing to operate its stores and fulfill orders for brides.

The company has assured customers that store credits will be honored, gift cards will be accepted, and returns and exchanges can be submitted in accordance with existing policies. Despite the challenges faced by David’s Bridal, CEO James Marcum stated…