David’s Bridal Responds to Rumblings of a Possible Bankruptcy Filing
Whether David’s Bridal is considering filing for bankruptcy for the second time in five years remains a question mark.
Based in Conshohocken, Pennsylvania, and founded more than 70 years ago, the chain has 300 stores primarily in the U.S. There are also outposts in Canada and the U.K. and franchised locations in Mexico. David’s Bridal specializes in affordable wedding gowns and special occasionwear, and has been the dominant player in that tier of the business. In response to a media report Saturday speculating about a potential Chapter 11 filing, a spokesperson for the nationwide chain Laura McKeever said via email, “As a company, we do not comment on speculation.”
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The company is said to be working with the investment bank Houlihan Lokey, according to a report in The New York Times Saturday.
John Gallagher, vice president of communications for Houlihan Lokey, also declined comment.
The retailer has also reportedly hired law firm Kirkland & Ellis. Spokeswomen for Kirkland & Ellis did not acknowledge media requests Monday.
David’s Bridal is also said to have hired the investment firm BRG (Berkeley Research Group). Executives at BRG did not respond to requests for comment Monday.
David’s Bridal had a bout with bankruptcy in the fall of 2018, when the retailer reached a deal with lenders to reduce its debt by more than $400 million. In April 2021, the bridal company closed a $70 million loan provided by CPPIB Credit Investments, a subsidiary of the Canada Pension Plan. That loan matures next year and is being used to fund operations and for corporate purposes.
The bridal category was one of the stronger sectors that emerged from the pandemic shutdown, but changing lifestyle preferences continue to plague some brands that have failed to adjust accordingly. In 2026, bridalwear is expected to reach $69.9 billion in volume, compared to $55.5 billion in 2020, according to the Global Bridal Wear Industry Report.
Despite a surge in post-pandemic weddings, rumblings of a recession and the overall unsteady economy have made some consumers more price conscious. An increasing appreciation for secondhand and vintage finds for both financial and environmental reasons is also factoring into wedding gown purchases. To that end, David’s Bridal recently debuted the “Reimagine” collection of eco-minded gowns made from recycled fabrics. In addition, millions of Millennials prefer nontraditional wedding gowns compared to previous generations of brides.
Customer service — the calling card that has kept many independent bridal specialty stores afloat — continues to be a priority for brands and stores alike. In January, David’s Bridal launched Pearl by David’s, a wedding planning platform and national vendor marketplace. The set-up gives national vendors access to 92 percent of the brides-to-be at David’s Bridal.
Like many bridal brands that have branched out to try to capture more of the special occasion business to create new revenue streams, the retailer has introduced new ventures in recent months. In addition to launching more affordable bridesmaids dresses, the company opened pop-up shops for prom dresses in December. Last month, the company joined forces with the furniture retailer Ashley to stage trunk shows to offer shoppers sales incentives for both brands. Last spring, the retailer acquired the bridal tech company Anomalie, which offers shoppers the option of designing and custom ordering their gowns. Anomalie’s cofounder and chief executive officer Leslie Voorhees Means did not respond to media requests Monday.
David’s Bridal cited the increasing thriftiness of cost-conscious brides in its January 2023 “Pearl Report,” noting that 33 percent of brides purchased dresses for less than $500, and 26 percent spent $500 and $999.
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