Winter storm warnings in northern Minnesota

MPR News helps you turn down the noise and build shared understanding. Turn up your support for this public resource and keep trusted journalism accessible to all. 

Turn Up Your Support

Wedding retailer David's Bridal is filing for bankruptcy for the second time in five years, and is laying off 9,326 employees over four months, the company 

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. 

Business and Economic News

Ayana Archie

Author

CEO James Marcum said the COVID-19 pandemic has greatly impacted its finances. During that time, the company was still spending on rent on its brick and mortar stores and factories were shut down.

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

Go Deeper.

Like this?

News you can use in your inbox