David's Bridal Just Filed For Bankruptcy & Here's What It Means For Wedding Season
This is the store's second bankruptcy in five years.
A David's Bridal store.
David’s Bridal, the U.S. leading bridal and special occasion company, has just filed for bankruptcy after doing a marketing and sale process that the company was unable to finalize out of court. Now, the business is looking into selling all, or some, of its assets.
The bankruptcy announcement also comes after David’s Bridal laid off a total of 9,236 workers, according to a report by NBC News. The company also filed for bankruptcy back in 2018.
"We are grateful to the seven decades of brides and customers who have trusted us with the most special events of their lives, as well as to the dedicated associates and valued partners who make our customers’ dreams come true," James Marcum, Chief Executive Officer of David’s Bridal said in a press release. "We remain as committed as ever to providing excellent service, delivering for our brands and customers, and being part of magical moments."
With that in mind, here’s what you need to know for this wedding season if you’re planning to visit David’s Bridal soon:
Can I still buy or get my dress from David's Bridal?
Yes. David’s Bridal stores will remain open, and the company is looking to operate in its ordinary course. Its website will also continue running, including what’s known as the Pearl platform and vendor marketplace.
Is David's Bridal going out of business?
Not currently. The company is still conducting regular business and has also stated that members of Diamond, those under the loyalty program, can still continue redeeming and using their rewards.
Additionally, David’s Bridal will still accept gift cards, returns, and exchanges from customers.
Is David's Bridal going to have any sales?
Not right now. The company hasn’t announced any sales going on as of the day of this publication.
What's going to happen with David's Bridal filing for bankruptcy in 2023?
According to the press release, David’s Bridal is exploring the sale of all, or a part, of the company’s assets.
"Alongside these efforts, the Company is also strategically managing inventory and evaluating its physical footprint to maximize value and the prospect of a successful going concern transaction."