Beleaguered David’s Bridal may escape the fate of Bed Bath & Beyond and Buy Buy Baby.
A New York-based firm, CION Investment Corp., has successfully bid for some of the assets of the retailer, the nation’s largest bridal-apparel chain. The deal would reportedly keep nearly 200 of David’s Bridal’s roughly 300 stores open and save thousands of jobs.
Creditors and landlords had until the end of the day on Monday to submit any objections to CION’s going-concern bid in U.S. Bankruptcy Court, where David’s Bridal filed for Chapter 11 protection in April. Amid those proceedings, the retailer’s headquarters at 1001 Washington St. in Conshocken, Pennsylvania, has been put on the block.
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