In much anticipated news, David’s Bridal, Inc. – the nation’s largest wedding retailer – has filed for Chapter 11 bankruptcy protection in Delaware. The company and the majority of its lenders are prepared to tie the knot through a prepackaged plan that will allow the company to shed $400 million in debt. The restructuring is supported by $60 million in new money DIP financing.
And don’t panic, ladies. The company says your dresses are safe. “Orders will arrive on time and bridal appointments will not be impacted,” the retailer said.
Mette H. Kurth