David’s Bridal will lay off more than 9,000 ahead of potential sale
Conshohocken-based David's Bridal, just four years after emerging from bankruptcy, has begun a "sale process" and is parting with the vast majority of its workforce.
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David’s Bridal is laying off more than 9,000 workers, including many in the Philadelphia region, and the company may be sold.
The Conshohocken-based wedding gown chain said in a notice to the Pennsylvania Department of Labor and Industry that it would be laying off 9,236 people across the United States. A specific number for Pennsylvania was not available as of Friday.
“We are evaluating our strategic options and a sale process is underway. At this time, there are no updates to share,” spokesperson Laura McKeever said.
Across the state, 15 locations will be affected, including six stores in the Philadelphia suburbs, the notice said. A company spokesperson did not respond to questions on Friday about whether those stores would remain open. The first round of layoffs occurred on Thursday, and two more phases will take place in May and June. While exact employee count companywide is unclear, it appeared to be around 11,000 in recent years.
On Wednesday afternoon, corporate employees received an invitation to a companywide virtual meeting on Thursday morning, and they were instructed to work remotely for the day. They were told during that meeting that David’s Bridal is trying to get a buyer, but if it doesn’t find one the other option would be to liquidate, according to two people who were present but did not wish to be named because they feared compromising their career prospects.
The New York Times reported last week that the company was considering filing for bankruptcy protection for the second time in five years, suggesting that wedding-related merchandise sales haven’t recovered from the COVID-19 pandemic, even as people return to throwing big events. At the time, McKeever said the company would not comment on speculation.
David’s Bridal just emerged from Chapter 11 bankruptcy in early 2019.
The company celebrated its 70th anniversary in 2020. It has over 300 stores, mostly in the U.S. with a few in Mexico and Canada.
“As ever, providing excellent service remains our focus and we are committed to serving and delivering for our brides and customers and being part of magical moments,” McKeever added.
Is David’s Bridal going out of business?
No signs point toward David’s Bridal going out of business and it’s too early to tell whether a company sale will result in store closures. When David’s Bridal filed for bankruptcy in 2018 the company said it would keep stores open and continue to serve customers. Leadership reported that it had done so when the company emerged from bankruptcy in 2019.