MOORFIELDS ADVISORY APPOINTED ADMINISTRATORS OVER UK ARM OF U.S.’ LARGEST BRIDAL RETAILER
- All stores to continue trading until further notice
- Customer orders will be fulfilled. Contact your store for further information
- Remaining stock to be subject to discounts and other special promotions
Andy Pear and Milan Vuceljic, Partners at Moorfields Advisory, were appointed Joint Administrators of the UK arm of the U.S.’ leading bridal and special occasion authority, David’s Bridal, on 17 April 2023. 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. At this time, David’s Bridal stores remain open, and the company intends fulfilling customer orders without disruption or delay.
The U.S. 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 maximize value for all stakeholders, including a marketing and sale process for its assets. In light of its liquidity constraints, the company was unable to finalize 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 has entered Administration on 17 April 2023.
David’s Bridal UK Limited has four stores located in London, Watford, Birmingham and Glasgow. The UK arm employs more than 150 team members.
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. We invite customers to visit their local store to take advantage of the discounts available.
Andy Pear, Partner at Moorfields Advisory, says: “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.”
Further Information on the Business
David’s Bridal has served over 70 million customers in more than 70 years of trading in the bridal gown market. In 1999 David’s Bridal IPO raised $104m, and by 2022 the company’s annual revenue was $1.3billion.
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Moorfields Advisory Ltd is one of the UK's leading boutique firms of restructuring and insolvency specialists. The highly skilled teams include restructuring professionals and licensed insolvency practitioners who provide leadership, experience and high-quality advice to companies and their stakeholders in financially distressed situations.
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