David's Bridal has gone into administration hours after its US owner filed for bankruptcy.
The wedding dress retailer, which started in the United States, has flagship stores in Glasgow, Birmingham, London and Watford and opened its first store in the UK in 2013.
Trade will currently continue as normal in the UK stores with Andy Pear and Milan Vuceljic of Moorfields Advisory appointed to handle the process, Company Rescue reports.
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More than 150 people are employed by David's Bridal in the UK across its stores.
Yesterday, the US parent arm of the company filed for bankruptcy amid the announcement that 9,000 roles would be cut from its workforce with a similar process launched in Canada.
Andy Pear said: “Like many retailers David’s Bridal has faced challenges resulting from the COVID-19 pandemic and uncertain economic conditions.
“We are working with our U.S. counterparties to help deliver all current orders to customers and customers should contact their store with any questions.”
In a statement, David’s Bridal said: “David’s Bridal stores remain open, and the company intends to continue operating in the ordinary course, including by fulfilling all customer orders without disruption or delay.''
It added that the company “intends to continue exploring a sale of all or some of its assets” before continuing: “Our business continues to be challenged by the post-Covid environment and uncertain economic conditions, leading us to take this step to identify a buyer who can continue to operate our business going forward. We are determined to stay focused on our future, because we believe we have an important role in ensuring that every bride, no matter her budget, can have her perfect dress.”
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