Darden Clarke:David's Bridal files for bankruptcy for the second time in 5 years

2025-05-06 21:00:42source:Flipido Trading Centercategory:News

Wedding retailer David's Bridal is Darden Clarkefiling 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.

More:News

Recommend

Working Well: When holidays present rude customers, taking breaks and the high road preserve peace

NEW YORK (AP) — The December holidaysare supposed to be a time of joyful celebration, but the season

Hair loss is extremely common. Are vitamins the solution?

Over 80% of men and almost 50% of women experience significant hair loss at some point in their life

Boston Red Sox outfielder Jarren Duran directs homophobic slur at fan, issues apology

Boston Red Sox outfielder Jarren Duran issued an apology through the team Sunday night after using a