David's Bridal could be filing for bankruptcy

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Speculation is swirling that David’s Bridal could be on the brink of bankruptcy after the bridal store chain skipped a loan payment. According to reports, the national bridal store chain missed a key debt payment on $270 million in unsecured funds. The company has a 30-day grace period to make the payment, but failure to do so so could lead to David’s Bridal filing for Chapter 11 bankruptcy.

David's Bridal is a national bridal chain that carries designer gowns, mother of the bride/groom dresses, prom dresses, wedding accessories and tuxedo rentals. The retailer reportedly sells a one-third of the wedding dresses in the United States.

S&P analysts told Retail Dive they believe David’s Bridal is “highly unlikely” to make the debt payment as the company tries to preserve its liquidity. There is a high likelihood that debt restructuring “either out of court or through a court organization” is “likely in the near future.”