David’s Bridal reportedly weighing Chapter 11 filing
A heavy debt load is putting pressure on David’s Bridal.
The bridal apparel retailer is making preparations for a bankruptcy filing if it can’t reach an out-of-court deal with its creditors, reported mysantonio.com, citing a Bloomberg report. David’s Bridal has a debt load of about $760 million which it is looking to ease with a pre-negotiated restructuring plan either in or out of court, the report said.
"We are engaged in discussions with our lenders in order to reach a mutually agreed-upon resolution designed to strengthen our balance sheet so we can increase our financial flexibility and further invest in our business," a representative for David's said in a statement emailed to Bloomberg.
Click here to read more.
The bridal apparel retailer is making preparations for a bankruptcy filing if it can’t reach an out-of-court deal with its creditors, reported mysantonio.com, citing a Bloomberg report. David’s Bridal has a debt load of about $760 million which it is looking to ease with a pre-negotiated restructuring plan either in or out of court, the report said.
"We are engaged in discussions with our lenders in order to reach a mutually agreed-upon resolution designed to strengthen our balance sheet so we can increase our financial flexibility and further invest in our business," a representative for David's said in a statement emailed to Bloomberg.
Click here to read more.