David’s Bridal plans to lay off employees at all four of its Iowa stores, including 26 employees at the company’s Marion location in the Collins Road Square, as the company seeks Chapter 11 bankruptcy protection. The layoffs are effective June 12, according to a notice filed April 14 on the Iowa WARN (Worker Adjustment and […]
David’s Bridal plans to lay off employees at all four of its Iowa stores, including 26 employees at the company’s Marion location in the Collins Road Square, as the company seeks Chapter 11 bankruptcy protection.
The layoffs are effective June 12, according to a notice filed April 14 on the Iowa WARN (Worker Adjustment and Retraining Notification) Act website.
Other layoffs in Iowa include 29 employees in Clive, 17 employees in Sioux City and 22 employees in Davenport.
David’s Bridal officials
said in a release April 17 that the company plans to keep its website operating, as well as its nearly 300 stores, and continue to fulfill customer orders as they seek a buyer to assume company operations.
The company plans to lay off more than 9,000 workers over the next few months, a vast majority of its estimated 10,000-member workforce.
“We have successfully modernized our marketing and customer interaction processes and driven our retail service levels to best in class,” David’s Bridal CEO James Marcum said in a release announcing the company’s bankruptcy filing. “Nonetheless, our business continues to be challenged by the post-COVID environment and uncertain economic conditions, leading us to take this step to identify a buyer who can continue to operate our business going forward.”
David’s Bridal officials also said April 17 that the company is “strategically managing inventory and evaluating its physical footprint to maximize value and the prospect of a successful going concern transaction.”
Monday’s bankruptcy filing is the second in five years for David’s Bridal. Founded in 1950, David’s Bridal is the largest bridal and special occasion store in America.
CNN reports that bankruptcies in the retail center are beginning to pile up. Party City, Tuesday Morning, mattress manufacturer Serta Simmons and Independent Pet Partners, a pet store retailer, have filed for bankruptcy in recent weeks. Bed Bath & Beyond is also on bankruptcy watch and
is closing several stores in Iowa, including Coralville, Cedar Rapids, Davenport and Sioux City.
