David’s Bridal, the nation’s leading retail chain for bridal dresses, filed for Chapter 11 bankruptcy for the second time on Monday. The company is laying off 475 workers in NY State at 14 stores according to WARN notices filed with the NY Department of Labor. The layoffs for store employees are expected to take effect between June 12 and August 11, 2023.
Employees at stores in NYC, Queens, Albany, Blasdell, Horseheads, Lake Grove, Middletown, Yonkers, Massapequa, East Syracuse, Tonawanda, Rochester and Westbury are affected.
The company said it is strategically managing inventory and evaluating its physical footprint to maximize value and the prospect of a successful going concern transaction.
David’s Bridal stores remain open, and the Company plans to continue operating, including by fulfilling all customer orders without disruption or delay. Additionally, the Company’s online platforms, including its Pearl platform and vendor marketplace, remain available and accessible to brides for their wedding planning needs. Further, members of Diamond, the Company’s industry-leading loyalty program, can continue to derive value by earning and redeeming rewards, and the Company intends to continue honoring gift cards, returns, and exchanges at this time.
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.”
