David’s Bridal announced Thursday, November 15, that it will file for bankruptcy in the imminent future.
But couples and wedding party members can breathe.
The retailer has agreed to a deal with its lenders so that it will continue to run its operations as usual. This means that any dress orders placed in David’s Bridal’s 300-plus stores, as well as online, will continue to be fulfilled.
“Yesterday, David’s Bridal reached an agreement on a consensual plan to strengthen the financial position of the business while continuing to serve brides as we always have,” a rep tells The Knot in a statement. “This agreement allows us to: Guarantee that our customers won’t see any change in the service level they have come to expect from David’s Bridal, continue operating all 300 plus stores as normal and in service of our customer, and deliver all orders and alterations on time as promised.”
The news initially triggered some concerns from industry insiders and couples planning their weddings after Alfred Angelo’s bankruptcy filing prompted mass hysteria for brides and bridesmaids in summer 2017. Those impacted at the time, however, were grappling with a very different scenario where near overnight, they were no longer able to retrieve their dresses.
In response, both David’s Bridal and BHLDN offered steep discounts to impacted couples. Many Alfred Angelo employees worked around-the-clock—and without pay—to help hundreds of clients.
“We drove 400 miles round-trip to collect 40 gowns from the seamstress and delivered them to brides,” Charlie Reed, formerly an assistant seamstress at Alfred Angelo, previously told The Knot. “I have a strong moral obligation to get these brides their gowns. One of the girls said, ‘We had a job that wasn’t done and we’re not people to leave things unfinished.’ It’s so true. Sure, people are amazed at what we are doing, but our response is, ‘Wouldn’t you do the same?’”
David’s Bridal’s bankruptcy deal will supposedly cut the retailer’s debt by $400 million. The retailer filed under chapter 11, while Alfred Angelo filed under chapter 7, which liquidates assets under bankruptcy law.
“David’s Bridal will continue to lead our category with an unbeatable selection of beautiful, high-quality wedding and special occasion dresses in a wide range of styles, colors, sizes, and prices,” David’s Bridal CEO Scott Key said in a statement. ”For 60 years David’s has delivered for our customers on time, and the agreement announced today allows us to maintain that tradition for many years to come.”