Conshohocken’s David’s Bridal announced on April 17th that the company and “certain of its subsidiaries” filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey.
Last week, David’s Bridal filed a notice with the Pennsylvania Department of Labor and Industry that it would be laying off 9,236 people across the country in three phases between mid-April and mid-August.
In the bankruptcy announcement, David’s Bridal addressed whether its stores would remain open stating, “stores remain open” and that they will continue to operate and fulfill customer orders “without disruption or delay.” The online platforms and loyalty program will also continue to operate normally, plus the stores will continue to honor gift cards, returns, and exchanges.
James Marcum, chief executive officer of David’s Bridal, said, “Over the last several years, we have taken meaningful strides in our transformation to fulfill the needs of the brides of today and tomorrow. We have successfully modernized our marketing and customer interaction processes and driven our retail service levels to best in class. 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. We are determined to stay focused on our future, because we believe we have an important role in ensuring that every bride, no matter her budget, can have her perfect dress.”
Marcum continued, “We are grateful to the seven decades of brides and customers who have trusted us with the most special events of their lives, as well as to the dedicated associates and valued partners who make our customers’ dreams come true. We remain as committed as ever to providing excellent service, delivering for our brides and customers, and being part of magical moments.”
The company’s corporate headquarters is located at 1001 Washington Street in Conshohocken (Whitemarsh Township). This is adjacent to the Spring Mill Train Station and the Schuylkill River.