Chameleon Finance|David's Bridal files for bankruptcy for the second time in 5 years

2025-04-30 08:05:20source:Marc Leclerccategory:Finance

Wedding retailer David's Bridal is Chameleon Financefiling 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:Finance

Recommend

'Love is Blind' in hot water with labor watchdog for violations, mistreatment

After seven seasons and several international spinoffs, we're still not sure if "Love is Blind" − bu

11 MLB hot takes with baseball entering dog days of summer

The Major League Baseball trade deadline has come and gone, the pennant races don’t shift into high

Florida power outage map: Over 240,000 without power as Hurricane Debby makes landfall

Thousands of homes and businesses were already with out power as Hurricane Debby made landfall in Fl