David’s Bridal has filed for bankruptcy protection, the second time for the chain in the past five years.
The announcement Monday arrives days after the company, one of the largest sellers of wedding gowns and formal wear, said it could eliminate more than 9,200 jobs across the United States. Based in Conshohocken, Pennsylvania, the company has about 300 stores across dozens of states and employs more than 11,000 workers,
David’s Bridal is looking to sell the company, but its stores remain open and its fulfilling orders without delay. Its online platforms also remain available to help people with their wedding planning needs.
The company last filed for bankruptcy protection in 2018 but reemerged a year later. Monday's filing was made in New Jersey.
Stocks dipped Friday morning after the yield on the benchmark 10-year Treasury crossed 5% for the first time in 16 years and also following Fed Chair Jerome Powell's remarks on Thursday.
Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high and that bringing it down to the Fed's target level will likely require a slower-growing economy and job market.
