The Philadelphia Business Journal reported on June 27th that David’s Bridal may have a potential buyer. The bridal company, which is based in Conshohocken (Whitemarsh Township), entered Chapter 11 bankruptcy in April.
From the article:
David’s Bridal is in talks with a potential buyer for some of the company’s assets, a deal that would save thousands of jobs and almost 200 stores across the retailer’s portfolio.
The Conshohocken wedding dress retailer confirmed to the Business Journal Tuesday that it is in “advanced discussions with an interested bidder.” The bid would save approximately 7,000 employees and nearly 195 stores, according to David’s Bridal.
The company did not name the bidder.
“While this is a very positive development, negotiations remain ongoing as we work to resolve certain outstanding items before the party will be in a position to submit a formal bid,” David’s Bridal said in a statement. “We are committed to keeping our stakeholders updated as information becomes available.”
You can read the full article here.