(Conshohocken, PA) -- David's Bridal filed for Chapter 11 Bankruptcy protection yesterday with plans to stay in business.
The nation's largest wedding retailer said they're facing hundreds of millions of dollars in debt from a private-equity buyout several years ago and are now facing an increase in digital competition. The company assured customers the bankruptcy would not interfere with anyone's big day, thanks in part to key lenders helping to keep them alive.
David's Bridal said they hope to finish bankruptcy by early January and come out on the other side with 400-million dollars less debt. The company sells about one out of every three wedding dresses in the US and has an annual estimated retail revenue of 791-million-dollars.
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