[ad_1]
David’s Bridal has filed for bankruptcy protection days after it announced layoffs for thousands of employees, but the formal wear chain plans to keep its retail stores open — including eight New Jersey locations.
The company, which specializes in bridal gowns, prom dresses and other formal wear, intends to “continue operating in the ordinary course, including by fulfilling all customer orders without disruption or delay,” according to a statement it released Monday.
David’s Bridal said it plans to continue to deliver orders on time as it looks to sell the company. Its stores and alterations department are still open, and customers can continue to shop online.
New Jersey locations
David’s Bridal has eight locations across New Jersey, in Paramus, Totowa, Deptford, East Brunswick, Freehold, Maple Shade, Mays Landing and Watchung. Based in Conshohocken, Pennsylvania, the company has about 300 stores across dozens of states and employs more than 11,000 workers.
Second bankruptcy in five years
It’s the second time in five years that the retailer has sought bankruptcy protection. David’s Bridal filed for bankruptcy in 2018 but reemerged a year later, according to the Associated Press. This Monday’s bankruptcy filing was made in a New Jersey court, the AP said.
CEO cites COVID and ‘uncertain’ economy
CEO James Marcum said in the news release that the business was “challenged by the post-COVID environment and uncertain economic conditions,” causing it to seek a buyer that will let it continue to operate.
“We are determined to stay focused on our future, because we believe we have an important role in ensuring that every bride, no matter her budget, can have her perfect dress,” Marcum said in the statement.
The bankruptcy announcement came two days after a notice filed with the Pennsylvania Department of Labor & Industry warned that the chain was planning more than 9,200 layoffs nationwide.
Stephanie Noda is a local reporter for NorthJersey.com. For unlimited access to the most important news from your local community, please subscribe or activate your digital account today.
Email: noda@northjersey.com
Twitter: @snoda11
[ad_2]
Source_link
