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David's Bridal files for bankruptcy for the second time in 5 years

The David's Bridal shop is shown Nov. 19, 2018, in Tampa, Fla. David's Bridal filed for bankruptcy protection Monday, April 17, 2023 the second time that the firm has sought such protection in the last five years.
Chris O'Meara
/
AP
The David's Bridal shop is shown Nov. 19, 2018, in Tampa, Fla. David's Bridal filed for bankruptcy protection Monday, April 17, 2023 the second time that the firm has sought such protection in the last five years.

Wedding retailer David's Bridal is filing for bankruptcy for the second time in five years, and is laying off 9,326 employees over four months, the company announced Monday.

David's Bridal first filed for bankruptcy in 2018 to restructure its debt. But the COVID-19 pandemic meant less customers were visiting its brick-and-mortar stores and factories had to shut down.

"We have successfully modernized our marketing and customer interaction processes and driven our retail service levels to best in class," CEO James Marcum said. "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."

In 2012, a private equity firm bought David's Bridal, which riddled the company with debt. Additionally, societal changes, such as couples marrying later and having smaller weddings, and women buying dresses online and secondhand, has impacted the wedding industry in recent years.

Orders will still be fulfilled, as stores will remain open and its website will still be available, it said.

Additionally, customers will still be able to take advantage of Diamond, the rewards program. Gift cards, returns and exchanges are also being honored.

Employees will continue to be paid, the company said.

Copyright 2023 NPR. To see more, visit https://www.npr.org.

Ayana Archie
[Copyright 2024 NPR]

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The independent journalism and non-commercial programming you rely on every day is in danger.

If you’re reading this, you believe in trusted journalism and in learning without paywalls. You value access to educational content kids love and enriching cultural programming.

Now all of that is at risk.

Federal funding for public media is under threat and if it goes, the impact to our communities will be devastating.

Together, we can defend it. It’s time to protect what matters.

Your voice has protected public media before. Now, it’s needed again. Learn how you can protect the news and programming you depend on.

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