TAMPA, Fla. (WFLA/AP) – David’s Bridal is filing for bankruptcy protection but there is no danger for customers who have ordered dresses because operations continuing as normal while the wedding and prom retailer restructures.
The bankruptcy filing, the private company said Monday, will wipe out more than $400 million in long-term debt.
It has commitments for $60 million in new debtor-in-possession financing and expects to exit Chapter 11 in early January.
“David’s Bridal has been the leader in the wedding industry for over 60 years. During that time, we’ve seen a lot of things change: fashion trends, where brides find inspiration and how customers shop. But one thing will always remain the same: our commitment to you, our customer,” Key said in a statement. “This agreement allows us to guarantee no change in the service level our customers expect from us.”
The company says its more than 300 stores will stay open and continue operating. Key says all orders and alterations will be delivered as promised.
“We are, and will continue to be, open for business,” he said.
This move from David’s Bridal comes a little more than a year after Alfred Angelo Bridal abruptly closed its 800 stores nationwide.