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

Pope Francis
Policies & IssuesMay 14, 2025
Here’s What Happened to Pope Francis’ Ring

Before Pope Leo XIV was elected, a centuries-old procedure regarding the late pontiff’s ring was followed.

1998 Cosmograph Daytona, Ref.16516 Rolex
AuctionsMay 14, 2025
Custom Rolex Pulled From Sotheby’s Sale

The one-of-a-kind platinum Rolex Cosmograph Daytona was estimated to fetch up to $1.7 million.

Jeweler Constance Polamalu at Bloomstone, a store that specializes in lab-grown diamonds
Lab-GrownMay 14, 2025
State of Diamonds: What’s Next for Lab-Grown Diamonds?

While the product has entrenched itself in the market, retailers and consultants are assessing the next phase of the category’s development.

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.

Surveillance footage Tiffany & Co. Seattle robbery
CrimeMay 14, 2025
Seattle Detectives Seek Public’s Help in Tiffany & Co. Robberies

The police are trying to identify the man suspected of robbing two Tiffany & Co. locations in the area.

Weekly QuizMay 08, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Foundrae Ingot Pendant
Policies & IssuesMay 14, 2025
Foundrae Donates $11K to Ethical Metalsmiths

The donation was the result of the brand’s annual Earth Day Ingot event.

Eiseman Jewels ribbon cutting ceremony
IndependentsMay 13, 2025
Eiseman Jewels’ Renovated Dallas Store Is Bigger and Better

Located in NorthPark Center, the revamped store is nearly 2,000 square feet larger and includes the first Tudor boutique in Dallas.

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

Malyia McNaughton and Elyssa Jenkins-Pérez
MajorsMay 13, 2025
BIJC Launches New Education Fund

BIJC President Malyia McNaughton will shift roles to lead the new foundation, and Elyssa Jenkins-Pérez will succeed her as president.

Harwell Godfrey Snake Giza Ring, Foundrae Mind, Body Soul Story Necklace, Tiffany & Co. Tiffany Titan By Pharrell Williams Bracelet
TrendsMay 13, 2025
State of Jewelry Design: The Top 10 Jewelry Trends of the Past Decade

As a nod to the theme of JCK Las Vegas 2025, “Decades,” National Jeweler took a look back at the top 10 jewelry trends of the past 10 years.

Lightbox’s Reminiscence Poet earrings in 14-karat white gold with lab-grown diamonds
Lab-GrownMay 12, 2025
Lightbox to Go Dark by Summer, De Beers Says

The company plans to halt all consumer-facing activity this summer, while Lightbox factory operations will cease by the end of the year.

Stock image of shipping containers
Policies & IssuesMay 12, 2025
Tariffs on Chinese Imports Temporarily Slashed as U.S.-China Reach Deal

Following weekend negotiations, the tax on Chinese goods imported into the United States will drop by 115 percent for the next 90 days.

Artists’ Jewelry: From Cubism to Pop, the Diane Venet Collection
Events & AwardsMay 12, 2025
Jewelry By Picasso, Dalí on Display at Florida Art Museum

“Artists’ Jewelry: From Cubism to Pop, the Diane Venet Collection” is on view at the Norton Museum of Art through October.

2025 CASE Award Submission Graphic
Events & AwardsMay 12, 2025
CASE Awards Now Accepting Entries For 2025

The deadline to submit is June 16.

Lugano Diamonds store in Greenwich, Connecticut
IndependentsMay 09, 2025
Lugano Diamonds CEO Resigns Amid Internal Investigation

Moti Ferder stepped down Wednesday and will not receive any severance pay, parent company Compass Diversified said.

Coeur Percé Scapular Necklace and Love Baby Locket
CollectionsMay 09, 2025
Pieces of the Week: Marie Lichtenberg’s Collaborations for Mother’s Day

Lichtenberg partnered with luxury platform Mytheresa on two designs honoring the connection between mothers and daughters.

Gemfields emeralds
SourcingMay 09, 2025
Gemfields Resumes Emerald Mining in Zambia

The miner announced plans to recommence open-pit mining at Kagem.

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

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.

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.

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.

×

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