[ad_1]
Chris O’Meara/AP
Wedding retailer David’s Bridal is submitting for chapter for the second time in 5 years, and is shedding 9,326 staff over 4 months, the corporate announced Monday.
David’s Bridal first filed for chapter in 2018 to restructure its debt. But the COVID-19 pandemic meant much less clients have been visiting its brick-and-mortar shops and factories needed 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 mentioned. “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 personal fairness agency purchased David’s Bridal, which riddled the corporate with debt. Additionally, societal modifications, similar to {couples} marrying later and having smaller weddings, and girls shopping for clothes on-line and secondhand, has impacted the marriage business in recent times.
Orders will nonetheless be fulfilled, as shops will stay open and its web site will nonetheless be out there, it mentioned.
Additionally, clients will nonetheless have the ability to benefit from Diamond, the rewards program. Gift playing cards, returns and exchanges are additionally being honored.
Employees will proceed to be paid, the corporate mentioned.
[adinserter block=”4″]
[ad_2]
Source link