Conshohocken-based David’s Bridal was in the news again this week due to its bankruptcy Bloomberg.com published an article on May 24th titled “David’s Bridal Creditors Warn Company’s Survival Is in Doubt” that reported the response from the attorney for David’s Bridal’s creditors. David’s Bridal announced that it had filed for Chapter 11 bankruptcy on April 17th.
From the article:
It’s unlikely David’s Bridal LLC will survive bankruptcy as a going concern, a lawyer representing creditors of the nation’s largest bridal retailer said Wednesday.
The company’s bankruptcy is “very, very bleak,” because of a variety of challenges, including changing cultural norms and values, said Bradford Sandler, a lawyer speaking on behalf of a committee of the retailer’s unsecured creditors.
It’s possible David’s lenders won’t be repaid in full, Sandler said, raising questions about how much junior creditors may recover. The retailer owes lenders about $257 million, according to an April court filing.
David’s Bridal’s headquarters is located adjacent to the Spring Mill Train Station in the Conshohocken section of Whitemarsh Township.