The David’s Bridal store in Marion is set to close later this month, leaving an estimated 25 employees out of work, as the company pursues Chapter 11 bankruptcy protection for the second time in five years. Though a David’s Bridal spokesperson did not confirm a specific date for the store’s closure, signage in the store’s […]
The David’s Bridal store in Marion is set to close later this month, leaving an estimated 25 employees out of work, as the company pursues Chapter 11 bankruptcy protection for the second time in five years.
Though a David’s Bridal spokesperson did not confirm a specific date for the store’s closure, signage in the store’s display window indicates the store will be closing June 27.
The spokesperson noted that while “no outcome is certain, we want to assure the market and our employees that we are working as hard as we can to find a buyer to bring the iconic David’s brand into the future.”
“We are pursuing a dual-track process under Chapter 11 to sell our company,” the spokesperson added. “We hope to achieve a going concern sale and preserve as many David’s jobs as possible but have commenced store closings in specific locations as this is underway … Across our David’s Bridal stores in Iowa, we intend to fulfill orders without disruption or delay, and customers should not expect to see any change in the unparalleled service level they have come to expect from our Dream Makers.”
The David’s Bridal store at 1402 Twixt Town Road in Marion is one of 49 locations nationwide set for a private sale in June, according to
an auction listing posted online by A&G Real Estate Partners of Melville, N.Y., a company specializing in lease optimizations, real estate sales and property auctions.
The date of the sale isn’t specified in the listing, but in a news release, A&G said the transactions “must be presented for bankruptcy court approval by June 30.”
The 9,000-square-foot store is being offered for sale at $8.50 per square foot, one of the lowest prices available on the A&G store listing.
David’s Bridal stores in Davenport and Sioux City are also included in the June sale notice, while a store in Clive is set for auction sometime in July. After the sales, David’s Bridal will no longer operate any stores in Iowa.
An Iowa WARN (Worker Adjustment and Retraining Notification) Act notice, updated as of June 12, shows that a total of 93 David’s Bridal employees will lose their jobs as of Aug. 20, including 25 employees in Marion, 22 employees in Clive, 20 employees in Sioux City and 26 employees in Davenport.
David’s Bridal officials
said in a release April 17 that the company planned 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.”
Founded in 1950, David’s Bridal is the largest bridal and special occasion store in America.
