David's Bridal, the leading bridal and special occasion retailer nationwide, has filed for Chapter 11 Bankruptcy.
What you need to know:
On April 17th, 2023, David's Bridal, LLC has announced that the company and specific areas of its subsidiaries has filed for voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the United States.
David's Bridals stores however remain open, and the company still plans to continue operations normally, including fulfilling all customer orders with no delay or disruption.
The company's online interface, including its vendor marketplace and its Pearl Platform remain accessible to brides for their wedding planning needs.
Members of the company's loyalty program, "Diamond", can still continue to earn and redeem rewards and the company still will honor any gift cards, exchanges, and returns at this moment.
David's Bridal is seeking "first day" relief from the court, including the authorization to continue payments of employee wages as well as benefits and honor prior obligations to vendors.
Prior to the Chapter 11 announcement, David's Bridal laid out a plan for a wide range of alternatives to maximize value for all stakeholders.
"Over the last several years, we have taken meaningful strides in our transformation to fulfill the needs of the brides of today and tomorrow. We have successfully modernized our marketing and customer interaction processes and driven our retail service levels to best in class. 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." said James Marcum, Chief Executive Officer of David's Bridal,.
Additional information regarding the Company's Chapter 11 process is available at https://omniagentsolutions.com/DavidsBridal. Stakeholders with questions may call the Company's Claims Agent Omni at (888) 482-0174 or (747) 293-0079 if calling from outside the U.S. or Canada, or email davidsbridalinquiries@OmniAgnt.com.
Source: https://tinyurl.com/nhdhjjf5