David’s Bridal Debt Issues Continue: Can The Wedding Retailer Turn It Around?

David’s Bridal joins the growing list of struggling retailers that are trying to gain a foothold amid decreasing sales. The wedding retailer is reportedly working with lenders to find a solution for its mounting debt.

According to a report from Debtwire (via Retail Dive), David’s Bridal has hired Greenhill & Co. "for help pursuing balance sheet solutions such as a consensual deal with lenders.” The news of the debt assistance comes as the company postponed its Q2 earnings report to its investors, which marked the selloff of its debt back in September, Retail Dive reported.

S&P Global downgraded David’s Bridal to junk status in May, saying that the retailer “remained significantly weaker than anticipated after emergence from bankruptcy." S&P also said at the time that David’s Bridal may have difficulties meeting its debt obligations long term based on its “rapidly weakening operating performance.”

David’s Bridal filed for Chapter 11 bankruptcy in November 2018. The company emerged from bankruptcy two months later after $450 million in debt was reportedly wiped away. At the time, the company put plans in motion to offer lower prices, increase its size offering, and add to its lineup with more bridesmaids and special occasion apparel, the company said in a press release.