David's Bridal Files for Bankruptcy, But Your Order Is Safe

Biz New Orleans Site Staff,
AP file photo by James A. Finley
In this May 10, 2005, file photo shoppers head for David's Bridal in Sunset Hill, Mo. David’s Bridal is filing for bankruptcy protection, though it says there is no danger for customers who have ordered dresses, and operations will continue as before as the company restructures. The retailer said Monday, Nov. 19, that the expected move will wipe out more than $400 million in long-term debt.

NEW YORK – David's Bridal is filing for bankruptcy protection but there is no danger for customers who have ordered dresses because operations continuing as normal while the wedding and prom retailer restructures.

The bankruptcy filing, the private company said Monday, will wipe out more than $400 million in long-term debt.

It has commitments for $60 million in new debtor-in-possession financing and expects to exit Chapter 11 in early January.

The 300-plus stores run by the Conshokocken, Pennsylvania, company will continue to operate and online sales will continue unimpeded.

 

Source: AP

Categories: Today’s Business News

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