America's largest wedding retailer filed for bankruptcy protection on Monday:
Originally Posted by CNBC
https://www.cnbc.com/2018/11/19/davi...rotection.html
"I tremble for my country when I reflect that God is just: that his justice cannot sleep for ever." - Founding Father Thomas Jefferson
More bankruptcies to come among retailers (and homebuilders, and, ultimately, banks).
Stay tuned sports fans.
This is re-structuring, not "going out of business".
https://www.nbcnews.com/business/bus...fected-n937926
David's Bridal said Chapter 11 restructuring would help it reduce its debt by more than $400 million.
The company has secured $60 million in debtor-in-possession (DIP) financing from its current term loan lenders and a recommitment for a $125 million asset-based loan to keep its stores open during restructuring and pay vendors.
"Customers can continue to shop across the more than 300 David's Bridal stores and online without disruption," the Conshohocken, Pennsylvania-based company said in a statement.
"Orders will arrive on time and bridal appointments will not be impacted."
David's runs more than 300 stores, including an outlet in New York's Flatiron District. It expects to complete the court-supervised Chapter 11 process by early January.
Last edited by Zippyjuan; 11-20-2018 at 08:54 PM.
And?
It is not a sign of the economy collapsing.
I cannot see how a brick & mortar bridal shop would ever make money in this day and age .
Do something Danke
Need a place to go for fittings and such. Considering what people pay for wedding gowns these days, there's no way in hell I'd buy one off the internet without trying it on or you might end up with something like this disaster.
Same goes for a quality suit, mine are custom tailored. I rarely buy anything online unless I can’t find what I’m looking for... tools that fit my hands, groceries I want to inspect... if brick/mortar ever stopped it’d be a challenge for me.
I just figured young people today wear something cheaper . Mrs O does alterations from a home office , she does an occasional bridesmaid or wedding dress but mostly just prom dresses and the bulk of the other work for men , hemming pants , replacing coverall zippers etcNeed a place to go for fittings and such. Considering what people pay for wedding gowns these days, there's no way in hell I'd buy one off the internet without trying it on or you might end up with something like this disaster.
Last edited by oyarde; 11-21-2018 at 07:19 AM.
Do something Danke
Less people are getting married.
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
Still its gonna hurt business. I would imagine that plenty of women would hesitate to plan an important purchase at a place that might be gone in a month.
No one said that it was.
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