David’s Bridal seeks restructuring deal
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David’s Bridal is reportedly inching closer to a bankruptcy filing.
The wedding apparel retailer is close to reaching an agreement with lenders that would reduce its debt through a Chapter 11 bankruptcy filing, Bloomberg reported. David’s, which operates more than 300 stores, is saddled with a debt load of about $760 million stemming from its 2012 acquisition for more than $1 billion by private equity firm Clayton, Dubilier & Rice.
The filing would allow David’s to keep its stores open and operating with funding from existing lenders, according to the Bloomberg report.
To read more, click here.
The wedding apparel retailer is close to reaching an agreement with lenders that would reduce its debt through a Chapter 11 bankruptcy filing, Bloomberg reported. David’s, which operates more than 300 stores, is saddled with a debt load of about $760 million stemming from its 2012 acquisition for more than $1 billion by private equity firm Clayton, Dubilier & Rice.
The filing would allow David’s to keep its stores open and operating with funding from existing lenders, according to the Bloomberg report.
To read more, click here.
