CONSHOHOCKEN, Pa., Jan. 4, 2019 /PRNewswire/ -- David's Bridal, the nation's leading bridal and special occasion authority, announced today that the United States Bankruptcy Court in the District of Delaware has confirmed the Company's consensual restructuring plan. David's Bridal will reduce its debt by approximately $450 million and continue to lead its category with an unbeatable selection of affordable, contemporary, high-quality wedding and special occasion dresses in a wide range of styles, colors, sizes, and prices.
"Today's confirmation marks the beginning of an exciting new chapter at David's Bridal as a stronger company with significantly less debt," said Scott Key, Chief Executive Officer of David's Bridal. "During the court-supervised process, our more than 300 David's Bridal stores have remained open and dedicated to delivering a five-star customer experience – and I could not be prouder of our team. I would also like to thank our lenders, noteholders and equity holders for their confidence, as well as our customers, vendors and manufacturing partners for their continued support."
Mr. Key added, "With January kicking off our busiest season, we are laser focused on delighting brides. We have been listening to feedback from our customers and have made a number of changes to better meet their needs. We are providing fresh contemporary styles at lower prices, exceptional customer service, and innovative new tools to help in planning her wedding. This includes our free universal registry tool, Blueprint Registry, new product categories, one-on-one appointments in our stores, exclusive events with top designers like Vera Wang and an optimized online shopping experience. David's Bridal has a very bright future ahead."
Debevoise & Plimpton LLP is serving as the Company's legal advisor, Evercore LLC is serving as its financial advisor and AlixPartners LLP is serving as its restructuring advisor.
About David's Bridal
With more than 60 years of experience dressing women for all of life's special occasions, David's Bridal is built on the ideal that every woman deserves to have the dress of her dreams regardless of her style preference, shape, size or budget. We believe in inclusivity, authenticity and empowerment and it is our mission to help every woman find the bridal gown that will allow her to be the best, most genuine version of herself on her wedding day. David's Bridal is dedicated to helping each customer find her perfect dress with the assistance of online planning tools, knowledgeable stylists, and expert seamstresses who will guide her through her entire dress buying journey. With more than 300 stores located across the US, Canada, UK, and franchise locations in Mexico, we offer the convenience of one-stop shopping for the bride and her entire bridal party. To learn more about David's Bridal, visit http://www.davidsbridal.com and connect on social media through Pinterest, Instagram, YouTube, Facebook and Twitter.
Meaghan Repko / Dan Moore
Joele Frank Wilkinson Brimmer Katcher
SOURCE David’s Bridal