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

2025-05-06 12:46:05source:Quantum Insightscategory:reviews

Wedding retailer David's Bridal is Phanincfiling 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.

More:reviews

Recommend

Anthony Anderson Shares Gout Diagnosis From Eating Too Much Shellfish

Anthony Andersonis getting candid on an unusual health scare.TheBlack-ishstar shared that he was dia

Biden heads to Wisconsin to laud a new Microsoft facility, meet voters — and troll Trump

WASHINGTON (AP) — President Joe Biden is racing into yet another battleground state Wednesday, conti

New iPad Pro, Air unveiled: See prices, release dates, new features for Apple's latest devices

Apple unveiled new features for the iPad on Tuesday during the tech giant's "Let Loose" event, in wh