David’s Bridal Files For Bankruptcy
America's biggest and most well known bridal company has filed for Chapter 11 bankruptcy protection this week. David's Bridals says that brides who ordered from them need not panic. They stated that the bankruptcy will 'allow them to continue operating its 300 or so U.S. stores, promising that orders will arrive on time and bridal appointments will not be impacted.'
The company was sold in 2012 to private-equity firm Clayton, Dubilier & Rice for more than a billion dollars, and according to the Washington Post, finances have declined since then.
Some of the factors cited in the decline in business were couples marrying later, spending less money on weddings, and online retailers. Read more details of the filing here.