DAVID’S BRIDAL SHOPS STAY OPEN
David’s Bridal store customers, including those in Canada, won’t be affected by the private company’s U.S. filing for bankruptcy protection because operations will continue as normal while the wedding and prom retailer restructures. “We will not be closing stores due to this announcement. In fact, we will be opening our 12th Canadian store in Vaughan at the end of December,” said spokeswoman Callie Canfield Worthington. The Pennsylvania-based retailer operates stores in five provinces, including six in Ontario. The bankruptcy filing, it said Monday, will wipe out more than US$400 million in long-term debt. It has commitments for US$60 million in new debtor-in-possession financing and expects to exit Chapter 11 in early January. The 300-plus stores will continue to operate and online sales will be unimpeded.