244
Fashion Jobs
H&M
Visual Merchandiser Manager- Newmarket
Permanent · AUCKLAND
L'OREAL GROUP
Operations & Transport Manager
Permanent · AUCKLAND
ABBOTT
Tpm Contract Manufacturing Manager
Permanent · AUCKLAND
ESSILORLUXOTTICA GROUP
Optometrist - Opsm Rotorua
Permanent · ROTORUA
DANGERFIELD
Online Coordinator
Permanent · AUCKLAND
PUMA
Key Account Manager nz
Permanent · AUCKLAND
L'OREAL GROUP
Key Account Manager
Permanent · AUCKLAND
PETER ALEXANDER
Part Time - Sales Assistant - Peter Alexander nz - Queenstown
Permanent · QUEENSTOWN
FOOT LOCKER
Sales Associate Casual
Permanent · LOWER HUTT
ESSILORLUXOTTICA GROUP
Retail Associate | Sunglass Hut Manukau
Permanent · AUCKLAND
ESSILORLUXOTTICA GROUP
Retail Associate | Sunglass Hut Dunedin
Permanent · DUNEDIN
ESSILORLUXOTTICA GROUP
Retail Associate | Opsm Rangiora Eyecare
Permanent · CANTERBURY
PETER ALEXANDER
2 x Casual - Sales Assistant - Peter Alexander nz - MT Maunganui
Permanent · AUCKLAND
PETER ALEXANDER
2 x Part Time - Sales Assistant - Peter Alexander nz - MT Maunganui
Permanent · AUCKLAND
LULULEMON
Assistant Manager | Christchurch (Tuesday - Saturday Rotation)
Permanent · CHRISTCHURCH
ICEBREAKER
Icebreaker : Sales Associate, Casual - Wellington Airport Touchlab
Permanent · WELLINGTON
DFS
Personal Shopper
Permanent · AUCKLAND
H&M
Department Manager- Chartwell (Hamilton)
Permanent · HAMILTON
H&M
Store Manager Wellington
Permanent · WELLINGTON
H&M
Sales Advisor- 28h
Permanent · AUCKLAND
H&M
Assistant Store Manager- Sylvia Park
Permanent · AUCKLAND
H&M
Department Manager- Sylvia Park
Permanent · AUCKLAND
Published
Nov 20, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

David's Bridal files for Chapter 11 bankruptcy

Published
Nov 20, 2018

After weeks of anticipation, David's Bridal has publicly announced its filing for Chapter 11 bankruptcy as part of a company restructuring support agreement (RSA) that will keep the retailer in business as it attempts to get back on its feet.


The conditions of the bankruptcy will allow David's Bridal to continue paying employee wages and benefits, and honor customer payments and orders for dresses and alterations. - Via David's Bridal


The wedding dress chain said the plan will reduce the company's debt by more than $400 million, taking a substantial chunk out of the company's approximate total debt of $760 million. The court-supervised process is expected to be completed by early January.

The company was quick to quell the worries of customers who have already placed orders with the wedding dress retailer, emphasizing that David's Bridal locations across the country will remain open throughout the bankruptcy process. 

"David's Bridal has sufficient liquidity to meet its business obligations and will continue to operate its business as usual throughout the court-supervised restructuring process," the company said in a press release. "Customers can continue to shop across the more than 300 David's Bridal stores and online without disruption. Orders will arrive on time and bridal appointments will not be impacted."

The conditions of the retailer's Chapter 11 filing will provide the company with $60 million in new debtor-in-possession financing, on top of a pre-existing $125 million in asset-based lending credit. In addition, the conditions of the bankruptcy will allow David's Bridal to continue paying employee wages and benefits, and honor customer payments and orders for dresses and alterations.

The company added that it plans to emerge from bankruptcy with a new focus on its digital retail presence. 

"We are implementing our consensual restructuring plan from a position of strength and, with the support of our lenders, noteholders and equity holders, the plan will allow us to reduce our debt significantly while continuing to run our business as usual,"  said Scott Key, CEO of David's Bridal, in the company's release.

"In the end, we will be able to allocate even more of our resources towards making strategic investments in digital technologies and talent that will drive long-term growth and operational excellence at David's Bridal," he concluded. 

Copyright © 2024 FashionNetwork.com All rights reserved.