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David’s Bridal Lives On

Court-approved sale to CION keeps almost 200 stores open.

Published

10 months ago

July 17, 2023

INSTORE Staff

PHOTOGRAPHY: Courtesy of David’s Bridal

David’s Bridal (Conshohocken, Pa.) has been sold to CION Investment Corp. (New York), a move that will allow the chain to keep most of its stores and employees, Women’s Wear Daily reports. The no-cash transaction was approved July 14 in a Trenton, N.J., court hearing overseen by U.S. Bankruptcy Judge Christine Gravelle.

After experiencing a falloff in business during the pandemic, David’s Bridal began shopping for a buyer in February and filed for bankruptcy in April – its second trip into Chapter 11 in five years. The alliance with CION will enable David’s Bridal to keep 195 stores open and between 7000 to 10,000 employees on the payroll, WWD reports. The sale also reportedly decreased the chain’s debt from $256.9 million to roughly $50 million.

She Wanted to Spend More Time with Her Kids. She Called Wilkerson.

Your children are precious. More precious than gold? Absolutely! Just ask Lesley Ann Davis, owner of Lesley Ann Jewels, an independent jewelry store that — until the end of 2023 — had quite a following in Houston, Texas. To spend more time with her four sons, all in high school, she decided to close her store. Luckily, she was familiar with Wilkerson and called them as soon as she knew she wanted to move on to bigger, better and more family-focused things. Was she happy with her decision? Yes, she was. Says Davis, “Any owner looking to make that life change, looking to retire, looking to close, looking for a pause in their career, I would recommend Wilkerson. Hands down!”