Biden’s Economy: David’s Bridal Files for Chapter 11 Just Days After Announcing 9,000 Layoffs

Citing soft retail sales and other ills, national bridal retailer David’s Bridal filed for reorganization under Chapter 11 of the federal bankruptcy laws on Monday.

The blow fell days after the chain announced it would lay off more than 9,000 workers over the next few months, according to CBS.

The company filed for Chapter 11 reorganization in November 2018 seeking to get out from under $400 million in debt. The company exited its reorganization in January 2019.

“An increasing number of brides are opting for less traditional wedding attire, including thrift wedding dresses,” David’s Bridal said in a filing, according to CNN.

“The demand for formal wedding dresses, bridesmaid dresses, and related accessories has decreased substantially in the current environment,” the filing said.

“David’s Bridal stores remain open, and the Company intends to continue operating in the ordinary course, 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,” the company said in a statement.

The statement said the company had been in search of alternatives but was “unable to finalize its marketing and sale process out of court and intends to continue exploring a sale of all or some of its assets.”