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David's Bridal emerges from bankruptcy

January 22, 2019 / Corinne Ruff
SHARESHARESHARE

In just shy of two months, David's Bridal is emerging from bankruptcy, according to a company press release. With a "substantially stronger balance sheet and a clear strategy for the future," the company said it is now "poised for long-term growth."The company reduced its debt by roughly $450 million and is now owned by a group of lenders, including Oaktree Capital Group, according to previously released details of its restructuring plan.David's Bridal also announced several new efforts that will roll out this year, including lower prices on best-sellers, expanded sizing between sizes zero and 30, a broader online assortment in bridesmaids and special occasion dresses, and more in-store events. The country's largest wedding gown retailer appears to have exited bankruptcy without a tear. During the restructuring process, executives at David's Bridal made a conscious effort to keep customers calm and stifle perceptions that the process meant liquidation, CEO Scott Key said in a statement. He added that over the last few months dresses arrived on time and stores stayed open.