Bankrupt wedding retailer David's Bridal is looking for a buyer willing to say 'I do' to a strategic sale of the company.
... [+]Wedding retailer David’s Bridal is courting potential investors with a proposal that is crucial to its survival. It needs to convince them to say “I do” to the purchase of the 73-year-old company.
CEO James Marcum, in an interview, sounded almost as confident about the future possibilities for David’s Bridal as he did in 2019, soon after he took charge of the company. Marcum said he is encouraged by the number of interested investors exploring a purchase. “There are a lot of parties engaged,” he said. “The obvious goal here is David’s will be here for future generations to come.”
Because of that possibility, or the chance that a new owner may opt to close some stores, David’s had to issue federal WARN notices alerting all store employees that they could be laid off within 60 days.David’s learned with its last bankruptcy that news of a bankruptcy, even with a rapid emergence and successful restructuring, can hurt future sales.
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