Big Bridal Retailer Could be Going Into Bankruptcy — What Does it Mean for Local Weddings?
When getting married, the last thing a bride needs to worry about is her bridal shop going out of business. But this news might make some local brides worry.
A few days ago, news came out that David's Bridal may be teetering towards bankruptcy, according to the Chicago Tribune. The popular retailer of wedding gowns, bridesmaids dresses and accessories recently missed an interest payment on a $270,000,000 loan that they have with lenders.
They have more than 300 stores in the United States, including locations at 15 Backus Avenue, in Danbury, Boston Post Road, in Orange, Connecticut, and Central Park Avenue, in Yonkers, New York. The Chicago Tribune says that David's Bridal:
Insists that no one will be left at the altar without a dress while the company looks to improve its balance sheet...We look at the that as essentially a precursor to some sort of restructuring action... David’s Bridal made the 'strategic decision' not to make an interest payment.
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