David’s Bridal, Largest Wedding Gown Retailer In U.S., Files For Bankruptcy After Laying Off 9,000 Employees

Wedding gown and formalwear retailer David’s Bridal has filed for Chapter 11 bankruptcy protection just after laying off more than 9,000 employees.

The Pennsylvania-based company said in a press release Monday that the company, including retail store locations, would remain open and operations would continue as normal while it seeks a buyer for the business.

CEO James Marcum attributed the decision to uncertain economic conditions driven by changing retail behavior resulting in poor sales performance. 

To meet the demands of the wives of today and tomorrow, Marcum said,” Over the past few years, we have made significant progress in our transition.” ” We have successfully modernized our customer interaction and advertising procedures, and we have raised the bar for financial support amounts.” However, the post-COVID culture and ambiguous economic conditions continue to present challenges for our company, which is why we are taking this action to find a buyer who can help us grow in the future.

We believe we play a crucial role in making sure that every wife, regardless of her funding, you have her ideal robe, so he continued,” We are determined to stay fixated on our future.”

The business is appreciative of” seven years of brides and clients who have trusted us with the most distinct events of their life, as well as to the devoted associates, valued partners, and dreams that make our customers’ dreams come true ,” according to Marum.

David’s’s Bridal began as a large bridal shop in Fort Lauderdale in 1950. Presently, it has 298 locations in 49 says, Canada, and the UK. The chain eventually gained a reputation for offering reasonably priced off-the-rack wedding gowns, some of which were being sold for as little as$ 199. According to the company, David’s’s Bridal dresses are worn by about 25 % of American wives at weddings.

Over the years, the company changed equity several times, and in 2018 it originally filed for Chapter 11 bankruptcy. This most recent dismissal follows the announcement that 9, 236 out of 11, 000 workers would be fired this year.

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According to a Yahoo Finance report, fewer weddings could also be to blame for the business slowdown. The outlet reported there were only 1.7 million marriage ceremonies in the U.S. in 2020, the lowest level in 121 years, after several years of more than 2 million marriages annually.

Although it has grown since 2020, it still falls short of the pre-pandemic standard of 2.2 million relationships per year.