David’s Bridal enters administration
At this time, David’s Bridal stores remain open, and the company intends fulfilling customer orders without ‘disruption or delay’
David’s Bridal UK has entered administration after its US owner filed for bankruptcy.
David’s Bridal UK Ltd is a subsidiary of the “long-established” David’s Bridal LLC which is headquartered in Pennsylvania, United States of America.
The US arm filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey on 17 April 2023, following an evaluation of a wide range of “strategic” alternatives to maximise value for all stakeholders, including a marketing and sale process for its assets.
David’s Bridal said that due to its liquidity constraints, the company was unable to finalise its marketing and sale process out of court and intends to continue exploring a sale of all or some of its assets.
As such, the UK subsidiary entered administration on 17 April 2023.
David’s Bridal UK Limited has four stores located in London, Watford, Birmingham and Glasgow.
At this time, David’s Bridal stores remain open, and the company intends fulfilling customer orders without “disruption or delay”.
Andy Pear and Milan Vuceljic, partners at Moorfields Advisory, were appointed joint administrators for the bridal retailer.
Moorfields Advisory will continue to trade the David’s Bridal UK operations as normal to fulfil orders, whilst conducting a stock liquidation through the retail outlets.
Pear, partner at Moorfields Advisory, said: “Like many retailers David’s Bridal has faced challenges resulting from the Covid-19 pandemic and uncertain economic conditions.
“We are working with our U.S. counterparties to help deliver all current orders to customers and customers should contact their store with any questions.”
