• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick David’s Bridal files for bankruptcy after laying off more than 9,000 workers
Editor's Pick

David’s Bridal files for bankruptcy after laying off more than 9,000 workers

by April 19, 2023
by April 19, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Two days after it announced it was laying off 9,236 workers, David’s Bridal has filed for Chapter 11 bankruptcy protection and is looking for a buyer.

The company said in a news release Monday, its stores would remain open and operations would continue as normal while it looks to sell key assets.

In a statement, CEO James Marcum cited the uncertain economic conditions of the post-Covid environment as a driver of the company’s decision to seek ‘a buyer who can continue to operate our business going forward.’

Based in suburban Philadelphia, David’s Bridal also filed for bankruptcy in 2018.

Data from S&P Global Market Intelligence data shows corporate bankruptcies have begun to climb again; February’s 57 filings was the most in a single month since March 2021.

“Interest rates remain elevated with little reason to suspect they will decline meaningfully by year-end, adding to increased costs for firms,” Nick Kraemer, the head of ratings performance analytics at S&P Global Ratings, said in a report Feb. 16.

Other retailers heavily reliant on physical stores have signaled a weakening sales environment — including Best Buy, which said Friday it would lay off hundreds of store employees.

In a statement, Best Buy said it is “evolving our stores and the experiences we offer to better reflect the changes in customer shopping behavior, as well as how we organize our teams to ensure we continue to provide our expertise, products and services in the best way possible.”

This post appeared first on NBC NEWS
You Might Also Like
  • Boeing CEO says China has stopped taking its aircraft amid trade war
  • Live Nation spars with senator over its vow to ditch hidden ticket fees
  • Are fears of a shoplifting surge running away from the facts?
  • Apple overtakes Samsung as top seller of smartphones
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Netflix announces ‘broad rollout’ of password-sharing crackdown in U.S.
next post
Options Spreads: Put & Call Combination Strategies

You may also like

This Missouri city is a prime spot to see the...

April 8, 2024

Google forcing some remote workers to come back 3 days...

April 24, 2025

Dow tumbles more than 600 points after weak jobs report

August 5, 2024

Hatch Baby recalls 919,000 power adapters on Rest 1st Generation...

July 4, 2024

Netflix to stream WWE’s ‘Raw’ starting next year in its...

January 24, 2024

A Big Mac combo for $18? Fast foodies are getting...

February 8, 2024

Macy’s is closing 150 stores nationwide as it seeks ‘bold...

February 28, 2024

KORE Delivers IoT SAFE Solution for Massive IoT Use Cases...

January 9, 2023

Florida is booming and burning more trash. Residents say it’s...

October 30, 2023

Two plead guilty to insider trading related to Trump Media...

April 4, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,633 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,321 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,303 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Amazon AI scammers duped investors out...

    March 19, 2025

    Amazon increases average pay for warehouse...

    September 19, 2024

    Disney scraps plan for new Florida...

    May 19, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here