Majors

David’s Bridal Files for Bankruptcy, Plans to Lay Off 9K Workers

MajorsApr 18, 2023

David’s Bridal Files for Bankruptcy, Plans to Lay Off 9K Workers

The wedding dress retailer said it is evaluating its network of around 300 stores as it looks for a buyer.

20230418_David's Bridal.jpg
David’s Bridal, one of the country’s largest wedding dress retailers, has filed for Chapter 11 bankruptcy protection.
Conshohocken, Pa.—David’s Bridal has filed for Chapter 11 bankruptcy protection, its second filing in five years, and is on the lookout for a buyer as it rethinks its store count.

The announcement came two days after the bridal giant said it would lay off 9,236 workers nationwide in phases beginning now through mid-August, according to a Pennsylvania WARN notice.

David’s Bridal has around 10,000 employees, including 2,000 full-time and 8,000 part-time workers, as per court filings.

Its stores will remain open throughout the bankruptcy proceedings, said the company, and it expects to fulfill all customer orders “without disruption or delay.”

Its online platforms and vendor marketplace remain available, and members of its Diamond loyalty program can continue to earn and redeem awards. Gift cards, returns, and exchanges also will continue to be honored.

David Bridal’s said it is re-evaluating its network of around 300 stores. If it does not find a buyer, it would likely prepare to wind down its operations, according to court filings.

It has 294 stores in total, including 278 in the U.S., 12 in Canada, and four in the U.K.

 Related stories will be right here … 

In a statement, David’s Bridal CEO James Marcum said the company has taken steps in recent years to modernize its stores and systems to provide top-level service to brides-to-be.

The retailer announced plans for a new store format late last year, and has added new offerings, like a fragrance collection, a wedding planning platform, a prom season pop-up, and an “eco-minded” bridal collection.

It also announced a partnership with Diamond Nexus, which sells lab-grown diamonds, diamond simulants and moissanite.

One in four U.S. brides wear a David’s Bridal gown at their wedding, said Marcum in court filings, while 87 percent visit the company’s website at least once during the wedding planning process.

“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 in a statement.

While the number of weddings spiked last year, the increase mostly was due to pent-up demand from the pandemic and likely does not signal a long-term, significant increase in the number of U.S. couples getting married.

In Signet Jeweler’s most recent fiscal year results, the company said its engagement ring sales struggled, down by low double digits for the year, a pattern it expects to repeat in fiscal 2024.

The jewelry giant said the pandemic impacted the formation of new relationships and, thereby, engagements, though it thinks the slowdown is temporary. A rebound is expected to begin at the end of the next fiscal year.

David’s Bridal’s Chapter 11 filing lists its estimated liabilities to be in the range of $100 million to $500 million, in line with its estimated assets.

The company has $256.9 million in debt, as per court filings.

The company said it is seeking authorization to pay its employee wages and benefits, maintain select customer programs, and pay “critical” vendors.

It won court approval Monday to borrow as much as $85 million to keep operations running during the proceedings.

David’s Bridal previously filed for bankruptcy in 2018, weighed down by debt and lagging wedding dress sales. It emerged from bankruptcy the following year.

U.S. corporate bankruptcies are on the rise in 2023, according to S&P Global Market Intelligence data, with the first two months of the year clocking the highest number of bankruptcies for any comparable period since 2011.

In January, 54 bankruptcy petitions were filed, and, in February, 57 were filed, the most in a month since March 2021.

The Latest

Stock image of a man’s hands in handcuffs
CrimeMay 08, 2025
Former NYC Jewelry Store Employee Arrested in 2017 Choking Death of Boss

Michel Desalles allegedly murdered Omid Gholian inside World of Gold N Diamond using zip ties and then fled the country.

2025 Met Gala jewelry
EditorsMay 08, 2025
5 ‘Superfine’ Met Gala Jewelry Moments

Associate Editor Lauren McLemore shares her favorite looks from a night of style inspired by Black dandyism.

instappraise-1.png
Supplier BulletinMay 08, 2025
Instappraise Introduces Game-Changing Trifold Appraisal Format

Sponsored by Instappraise

antique_Vegas_2024_by_headshot_stories_9454.jpg
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the Globe

Gain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.

Brilliant Earth three stone Sabine diamond engagement ring
FinancialsMay 08, 2025
Brilliant Earth Notes an Uptick in Engagement Ring Sales in Q1

CEO Beth Gerstein discussed the company’s bridal bestsellers, the potential impact of tariffs, and the rising price of gold.

Weekly QuizMay 08, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Exterior of Margot McKinney Beverly Hills Location
IndependentsMay 08, 2025
Margot McKinney Lands in the U.S. With New Boutique

The brand’s first independent location outside of Australia has opened in Beverly Hills, California.

Cathy Marsh
IndependentsMay 08, 2025
Verragio Announces New Regional Sales Manager

Cathy Marsh will lead the jewelry company’s efforts in the upper Midwest and western United States.

Supplier Spotlight -Recorded-Webinar.png
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest Addition

Supplier Spotlight Sponsored by GIA

Pandora gold and silver charm bracelet
FinancialsMay 07, 2025
Pandora Posts Strong Q1, Plans for Tariffs

The company has multiple strategies for dealing with tariffs, though its CEO said moving manufacturing to the U.S. is not one of them.

Headshot of Smart Age Solutions CEO Emmanuel Raheb
ColumnistsMay 07, 2025
The Smart Lab: Building a Seasonal Marketing Strategy for Mother’s Day and Beyond

Connecting with your customers throughout the year is key to a successful holiday marketing push.

Gemfields rough emeralds
SourcingMay 07, 2025
Gemfields Says Emerald Sales Improved in Latest Auction

Its commercial-quality emerald sale held last month totaled more than $16 million, up from about $11 million in September 2024.

Logo for “In the Loupe,” Punchmark’s podcast
TechnologyMay 07, 2025
Punchmark’s Latest Podcast Features a Very Special Guest

National Jeweler Editor-in-Chief Michelle Graff joined Michael Burpoe to talk tariffs, consumer confidence, and the sky-high price of gold.

Harwell Godfrey Met Gala brooch with Mediterranean Blue diamond
AuctionsMay 06, 2025
Harwell Godfrey Reimagines 10-Carat Blue Diamond for Met Gala-Ready Brooch

Designer Lauren Harwell Godfrey made the piece as an homage to the 2025 gala’s theme, “Superfine: Tailoring Black Style.”

Jewelers of America 20 Under 40 for 2025
Events & AwardsMay 06, 2025
Here’s Who Made Jewelers of America’s New ‘20 Under 40’ List

Expanded this year to include suppliers, JA’s 2025 list honors 40 up-and-coming professionals in the jewelry industry.

Sissys Log Cabin Fort Smith Arkansas
IndependentsMay 06, 2025
Sissy's Log Cabin Opens New Store

Located in Fort Smith, it’s the Mid-South jeweler’s first store in Northwest Arkansas.

Gunderson’s Jewelers
IndependentsMay 06, 2025
Gunderson’s Jewelers to Be Featured on ‘World’s Greatest’ TV Series

The episode about the family-owned jeweler will premiere May 17.

Zadok Jewelers Austin store
IndependentsMay 05, 2025
Zadok Jewelers Opens Store in Austin

The Houston-based jeweler’s new 11,000-square-foot showroom will include a Rolex boutique.

Nancy Astor Cartier turquoise and diamond tiara
AuctionsMay 05, 2025
Nancy Astor’s Cartier Tiara Heads to Auction

The turquoise and diamond tiara hasn’t been on the market since it was purchased by Lord Astor in 1930.

David DeCook Crater of Diamonds State Park 3.81-carat brown Duke Diamond
SourcingMay 05, 2025
Crater of Diamonds Yields 4-Carat Brown Diamond

“The Duke Diamond” is the largest diamond registered at the Arkansas park so far this year.

Kraft Mac & Cheese x Ring Concierge Forever Macaroni Necklace
TrendsMay 02, 2025
Ring Concierge, Kraft Partner on Mother’s Day Macaroni Necklace

The childhood craft of making dried pasta necklaces for Mother’s Day is all grown up as the 14-karat gold “Forever Macaroni” necklace.

Angely Martinez emerald Promise ring
CollectionsMay 02, 2025
Piece of the Week: Angely Martinez’s Emerald Promise Ring

Set with May’s birthstone and featuring an earthworm, this ring is a perfect celebration of spring.

Americut Gems
SourcingMay 01, 2025
Tariffs & Colored Gemstones: Relying on Stock, Considering the Ripple Effect

Though currently paused, high tariffs threaten many countries where gemstones are mined. Dealers are taking measures now to prepare.

Oscar Heyman emerald and diamond necklace
TrendsMay 01, 2025
Amanda’s Style File: 20 Pieces of Emerald Jewelry for May

May babies are lucky indeed, born in a month awash with fresh colors and celebrated with one of the most coveted colored gemstones.

Jewelers of America logo
MajorsMay 01, 2025
Jewelers of America Opens Applications for 2025 Scholarships

The deadline to apply for the Seymour & Evelyn Holtzman Bench Scholarship is June 12.

Stock image of an empty clothing store
SurveysApr 30, 2025
Consumer Confidence Hits Pandemic-Level Low Amid Tariff Concerns

What’s really worrying U.S. consumers isn’t the present situation; it’s what the economy is going to look like six months from now.

2025 Instore Jewelry Show Graphic
Events & AwardsApr 30, 2025
Instore Show Debuts New Name, Look, and Focus

Now called The Instore Jewelry Show, it will include holiday-focused education, interactive workshops, and a window display contest.

GemWorld GemGuide logo
SourcingApr 30, 2025
GemGuide Has a New Pricing Chart for Colombian Emeralds

It includes pricing for unenhanced Colombian emeralds in the fine to extra fine range.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy