NY Times: David’s Bridal may file for bankruptcy within the next few weeks
David’s Bridal, which fell into bankruptcy five years ago, is considering filing for bankruptcy again within the next few weeks, according to a report over the weekend in the New York Times.
According to the report, “David’s Bridal plans to continue to meet the demands of its customer base” including delivering dresses and holding fittings.
The Times, which cited two unnamed sources, said “nothing definite has been decided.”
The report blames David Bridal’s financial strain on lower in-store sales despite more consumer willingness to spend on events, such as a wedding. It also says inflation and worsening credit conditions pushed the all-things-bride goliath to explore its options.
According to the company, 1 in 3 brides purchases their dresses from David’s Bridal.