David’s Bridal, the beloved bridal retail giant, has announced that it will be filing for bankruptcy and letting go of over 9,000 employees, just weeks before wedding season begins. The company’s plans to eliminate positions will have a significant impact on its numerous stores across the country.
As a result of the layoffs, the company may also have to close down some of its stores. The Stylish Bride founder Julie Sabatino told “Good Morning America” that brides may need to look further to find a David’s Bridal if some stores shut down.
The layoffs have already begun in Pennsylvania, and they will continue to occur at up to 15 stores in the state until August 11. “Nonetheless, our business continues to be challenged by the post-COVID environment and uncertain economic conditions, leading us to take this step to identify a buyer who can continue to operate our business going forward,” said David’s Bridal CEO James Marcum in a statement.
In 2022, weddings reached their highest number in four decades due to a pandemic backlog, according to CEO of the Wedding Report Shane McMurray. However, this year, post-pandemic obstacles such as supply chain issues are expected to impact the wedding industry, leading to fewer people getting married.
Sabatino added that dresses are now taking much longer to produce than before the pandemic, with lead times of nine to 12 months. As a result, many people have opted for non-traditional options such as second-hand shopping.
Despite these challenges, David’s Bridal remains determined to fulfill its mission of ensuring that every bride, regardless of budget, can have her perfect dress. The company’s CEO is focused on finding a buyer who can continue to operate the business going forward.
Meanwhile, brides-to-be like Jenn Leonard have discovered the joys of shopping for wedding dresses at consignment shops. Leonard found her dream dress at a consignment shop and saved over $1,500 off the retail price. She feels good about purchasing a dress that will also help out a previous bride, stating “My buying this dress is actually helping out the previous bride. That is a huge thing. You know, I’ve always firmly believed in paying it forward.”
In conclusion, David’s Bridal’s bankruptcy and layoffs have sparked concern among brides-to-be and the wedding industry as a whole. Nevertheless, the company remains dedicated to its mission of making every bride’s dream come true, and brides are finding alternative ways to fulfill their wedding dress needs.
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