Reports: David’s Bridal Sold in Deal That Keeps Nearly 200 Stores Open

David's Bridal store
Photo courtesy JHVEPhoto, Adobe

David’s Bridal, which declared bankruptcy in April 2023, has been sold to CION Investment Corp. in a no-cash transaction, according to multiple media reports. The deal, which has been approved by the U.S. Bankruptcy Court for the District of New Jersey, would keep approximately 195 brick-and-mortar stores open and maintain the jobs of 7,000 of the retailer’s 10,000 employees.

Additionally, the bankruptcy sale reduced the company’s overall debt to about $50 million from its previous level of $256.9 million.

Besides CION, the other bidders offered to buy the David’s Bridal brand name and IP but not its stores or inventory, and neither offered more than $250,000, according to a U.S. News and World Report article that quoted in-court statements by David’s Bridal financial advisor Surbhi Gupta: “Candidly, I don’t know if there are other viable options. I’m not even sure we have the funds to finance a liquidation of the business.”


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