Deals
David's Bridal Emerges From Bankruptcy in Under Two Months
- Wedding dress seller cut its debt by $450 million in Ch. 11
- Process “frees our ability to re-invest,” CEO Scott Key says
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America’s largest wedding gown retailer emerged from bankruptcy on Friday, just weeks after it first sought protection from creditors.
David’s Bridal Inc. shrunk its debt load by about $450 million and is now owned by lenders including Oaktree Capital Group. The company, which filed for bankruptcy in November, was looking to exit bankruptcy quickly to avoid scaring off brides that might fear a store under court protection from creditors was at risk of collapsing, destroying wedding plans in the process.