[ad_1]
Published April 24, 2023 12:16 p.m. ET
TORONTO — David’s Bridal, the largest wedding gown store in North America, has filed for bankruptcy protection in the U.S. for the second time in five years.
An Ontario court has recognized the U.S. case as the main proceedings, and granted the retailer protection under the Companies’ Creditors Arrangement Act for its Canadian operations.
The chain has about has about 300 stores and 11,000 workers across North America, including a dozen stores and 500 employees in Canada.
David’s Bridal, which sells wedding dresses and formal wear, has said it could eliminate more than 9,000 jobs in the coming months.
The retailer is looking to sell the company but its stores remain open and it continues to fulfil online orders.
James Marcum, CEO of David’s Bridal, says the business continues to be challenged by the post-COVID environment and uncertain economic conditions.
With files from The Associated Press. This report by The Canadian Press was first published April 24, 2023
[ad_2]
Source link