Daily News | Bankrupt David’s Bridal receives tentative bid to keep most stores open
David’s Bridal has received a tentative going-concern bid that would keep more than 190 stores open, spurring optimism that the wedding dress retailer might be able to survive bankruptcy,The deal would also keep more than 7,000 jobs by staving off mass store closures, lawyers for the company said in a bankruptcy court hearing Tuesday. The bid deadline has been extended to July 3 and a new sale hearing is scheduled for July 14.
”We think the opportunity to save 7,000 jobs and over 190 stores is fantastic for the vendors and the landlords,” Brad Sandler, an attorney representing the company’s official creditor committee, said during the hearing., said in a notice to the Pennsylvania Department of Labor and Industry that it would lay off 9,236 people across the United States. At the time, the company believed that 15 locations in Pennsylvania would be affected, including six stores in the Philadelphia suburbs.
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