After the closing of the sale of most of its assets to CION Investment in New York City, David’s Bridal, based in Conshohocken, is looking to the future and ways to expand, writes Emma Dooling for Philadelphia Business Journal.
This is the company’s second Chapter 11 bankruptcy in less than six years. The sale to CION will save up to 195 stores and almost 7,000 jobs across the country.
David Bridal CEO Jim Marcum said that the wedding dress retailer will most likely exit bankruptcy within 90 days and will focus the rest of the year on making sure the company is in a good position for the upcoming holiday season and that customers know that the company is back on solid ground.
“I think it’s really important to get the message out that we’re now back and here to stay,” Marcum said.
Then in 2024 and beyond, Marcum said David’s Bridal will start looking for growth opportunities like taking some of its dress accessory and fragrance brands international and focusing more on its popular special occasion dresses.
The retailer is also considering the “store within the store” concept as a way to increase its presence without opening more locations. David’s Bridal would partner with other retailers to add a David’s Bridal section or showroom to its stores.
Read more about David’s Bridal’s next steps in Philadelphia Business Journal.
Bridesmaids Trends for 2023-2024.