A banner reading: “Closing – this location only” has appeared in front of the David’s Bridal store at 3201 Veterans Parkway in Southwest Plaza.
On April 17, David’s Bridal issued a press release stating that the company had filed for bankruptcy and 9,000 of its 10,000 employees would be laid off. It’s the second Chapter 11 filing in five years for the company, which also sought bankruptcy protection in 2018.
While weddings have rebounded since virtually coming to a halt during the early days of the pandemic, a decline in marriage rates and a shift toward more casual ceremonies has hampered the wedding industry overall. A statement from CEO Jim Marcum on the company’s website reads in part: “An increasing number of brides are opting for less traditional wedding attire, including thrift wedding dresses. These shifting consumer preferences have significantly exacerbated. The demand for formal wedding dresses, bridesmaid dresses, and related accessories has decreased substantially in the current environment.”
The statement also indicates the company is trying to "identify a buyer who can continue to operate our business going forward," but plans to keep its locations open in the meantime. “Our stores and online platforms are open, and we intend to fulfill all customer orders without disruption or delay. The David’s Bridal experience hasn’t changed,” said the statement from Marcum.
However, it is unclear how long the Springfield location will remain open. Callers to the store are directed to call another number for information about the “restructuring,” and the person who answered said he did not have any information about timelines for specific stores closing. There was no response to media inquiries sent through the company’s website.
David’s Bridal has approximately 300 stores in the U.S., including 12 in Illinois. In addition to Springfield, there are locations in Peoria, Champaign, Fairview Heights and the Chicago suburbs.
Have you heard rumors about a business in town opening or closing but aren’t sure what to believe? Email your question to info@springfieldbusinessjournal.com and we’ll check it out. You can also follow Springfield Business Journal on Facebook or Twitter to get local breaking news.
