April 18, 2023

National wedding and formalwear store David’s Bridal has filed for Chapter 11 bankruptcy.

The company’s stores remain open, including the Sioux Falls location. All customer orders will be filled “without disruption or delay,” the company said in a statement. The company also will continue honoring gift cards, returns and exchanges at this time.

Before filing bankruptcy, the company had evaluated potentially selling its assets, but liquidity constraints prohibited that, it said. David’s Bridal said it plans to continuing exploring a sale of all or some of its assets as well as “strategically managing inventory and evaluating its physical footprint to maximize value and the prospect of a successful going concern transaction.”

The Sioux Falls store is in a leased space at 4004 W. 41st St.

“Over the last several years, we have taken meaningful strides in our transformation to fulfill the needs of the brides of today and tomorrow,” CEO James Marcum said in a statement. “We have successfully modernized our marketing and customer interaction processes and driven our retail service levels to best in class. Nonetheless, our business continues to be challenged by the post-COVID environment and uncertain economic conditions, leading us to take this step to identify a buyer who can continue to operate our business going forward. We are determined to stay focused on our future because we believe we have an important role in ensuring that every bride, no matter her budget, can have her perfect dress.”

Late last week, the company announced it was laying off more than 9,000 workers. It has about 300 stores across the country.

It also filed for bankruptcy in 2018 to restructure its debt.