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David’s Bridal has filed for Chapter 11 bankruptcy and will lay off more than 9,000 employees. It’s the second bankruptcy filing in five years, making lots of people wonder about the future of the popular wedding store chain.
The retailer’s nearly 300 stores are going to remain open while they explore options for a buyout, according to the official press release. David’s Bridal CEO said the company “continues to be challenged by the post-COVID environment and uncertain economic conditions.”
He said David’s Bridal’s owner, private equity frim Clayton, Dubilier & Rice, is looking to sell the company through the bankruptcy process. CD&R owns a number of diverse companies, including American Greetings, UK supermarket chain Morrisons, MOD Pizza restaurants, and lawncare company TruGreen.
What does the bankruptcy filing mean for brides, bridesmaids, and David’s Bridal customers? Here’s what we know so far:
No David’s Bridal locations are closing — yet.
As of now, there are no plans to close any of the existing David’s Bridal locations, but if the company gets a new owner, there’s a high likelihood that the stores would close then.
When new owners take over bankrupt companies, it’s pretty common to see them close stores. Here are some examples:
- In 2019 Sears Holdings, the parent company of Sears and Kmart, was bought out of bankruptcy by Transform Holdco, a company controlled by Sears’ former CEO, Eddie Lampert. Following the buyout, Sears closed more than 100 stores.
- In 2015 American Apparel filed for bankruptcy after years of financial struggles. Two years later Canadian apparel company Gildan Activewear closed hundreds of American Apparel stores and laid off thousands of employees after buying the company.
- In 2011 Blockbuster was bought out by Dish Network after filing for bankruptcy. Following the buyout, Dish Network closed more than 500 Blockbuster stores.
So once a new owner is found, there’s a good chance we’ll be seeing some David’s Bridal liquidation sales.
David’s Bridal is still selling wedding dresses, accepting gift cards, and doing returns and exchanges.
David’s Bridal is still fully operational and serving customers at this time, both in store and online. Customers can still make returns and exchanges as normal, and alterations are still being made. Additionally, the David’s Bridal Diamond loyalty program remains active, allowing shoppers to earn and redeem rewards, and gift cards are still being honored and sold.
In the meantime, get ready for David’s Bridal’s biggest sale of the year in June.
While we’re waiting to see what’ll happen with David’s Bridal, they have a liquidation-level sale coming up. They haven’t announced the first “sale-a-bration” of 2023, but if last year is any indication, shoppers will be able to get 50 – 60% off wedding attire from late June to early July (in 2022 the sale ran from June 21 – July 5).
We’ve got lots more places to buy affordable wedding dresses.
