HOUSTON – David’s Bridal, a large company that sells wedding dresses and formal wear, is expected to file for bankruptcy for the second time in five years and lay off more than 9,200 people across the United States, The New York Times reported.
According to CNN, the business filed a notice about its plans with the Pennsylvania Department of Labor. The layoffs are reportedly going to start on April 14, and the process will continue until Aug. 11.
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Nearly 15 Pennsylvania stores will be impacted, but officials did not mention how many stores in other states would be losing staff. David’s Bridal, based in Conshohocken, Pennsylvania, has over 11,000 employees.
READ: David’s Bridal files for bankruptcy, but your order is safe
The company shared that it is “evaluating our strategic options and a sale process is underway.”
Neil Saunders, managing director at GlobalData Retail, told CNN that David’s Bridal’s actions indicate the company is in “crisis mode,” and the business could be preparing for bankruptcy or to be sold. Saunders reportedly believes the company might close some of its stores.
In 2018, the bridal business filed for bankruptcy and recovered the following year, but the COVID-19 pandemic also impacted the wedding industry, CNN said.
The recent changes at David’s Bridal come as technology and other companies are announcing thousands of layoffs. Google and Amazon are some of the businesses that are downsizing its workforce.
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