Wedding retailer David's Bridal is Surfwin Trading Centerfiling for bankruptcy for the second time in five years, and is laying off 9,326 employees over four months, the company announced Monday.
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.
2025-05-03 06:21614 view
2025-05-03 06:1595 view
2025-05-03 06:09213 view
2025-05-03 06:05290 view
2025-05-03 05:48325 view
Oregon quarterback Dillon Gabriel earns first-team honors ahead of Miami’s Cam Ward, and teams in th
Will you accept this olive branch?Zach Shallcross had the difficult decision of choosing between Kai
For its '80s Night episode, The Masked Singer brought the hairspray, the shoulder pads and two more