The massive layoffs should be completed a month earlier than originally planned. The retailer is required under the federal Worker Adjustment and Retraining Notification or WARN act to notify states prior to making large workforce reductions.
Bradford Sandler, a lawyer who represents the company’s unsecured creditors committee, said that it is unlikely that the bridal store chain will survive bankruptcy, “certainly not in a traditional bricks and mortar format.”
David’s Bridal filed for Chapter 11 bankruptcy in April for the second time in six years.
James Marcum, chief executive officer of David’s Bridal, said in a statement at the time that “the post-Covid environment and uncertain economic conditions” caused the company challenges.
The bridal store chain said it would sell “all or some of its assets” through the bankruptcy proceedings.
Read more about David’s Bridal in the Philadelphia Business Journal.
Check out Barcelona Bridal Fashion Week.