David's Bridal preparing to open Canada store despite bankruptcy filing
The entrance to a David's Bridal store is seen Monday, Nov. 19, 2018, in Orlando, Fla. David's Bridal is filing for bankruptcy protection but there is no danger for customers who have ordered dresses because operations are continuing as normal while the wedding and prom retailer restructures. (AP Photo/John Raoux)
The Canadian Press
Published Monday, November 19, 2018 2:56PM EST
David's Bridal store customers, including those in Canada, won't be affected by the company's U.S. filing for bankruptcy protection because operations will continue as normal while the wedding and prom retailer restructures.
"We will not be closing stores due to this announcement. In fact, we will be opening our 12th Canadian store in Vaughan at the end of December," said spokeswoman Callie Canfield Worthington.
The Pennsylvania-based retailer operates stores in five provinces, including six in Ontario.
The bankruptcy filing, the private company said Monday, will wipe out more than US$400 million in long-term debt.
It has commitments for US$60 million in new debtor-in-possession financing and expects to exit Chapter 11 in early January.
The 300-plus stores run by the company will continue to operate and online sales will continue unimpeded.
"Orders will arrive on time and bridal appointments will not be impacted," it said in a news release.