DAVID'S BRIDAL BANKRUPT: Wedding dress retailer cites 'post-COVID environment and uncertain economic conditions,' saying it's looking for a buyer.
for bankruptcy on Monday just days after announcing plans to lay off more than 9,000 workers nationwide later this year.
"We have successfully modernized our marketing and customer interaction processes and driven our retail service levels to best in class," CEO James Marcum said in a."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.
David's Bridal plans to lay off 9,236 employees in three waves between April and August, according to aposted Friday on Pennsylvania's Department of Labor. As of April, the company had about 10,000 employees — 2,000 full-time and 8,000 part-time. The company said in a statement Monday that some layoffs have already begun.
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