David’s Bridal files for bankruptcy | CNN


David’s Bridal has been buried under a mountain of debt. It hasn’t helped that fewer people are tying the knot lately.

The nation’s largest bridal retailer filed for Chapter 11 bankruptcy protection on Monday. It owes between $500 million and $1 billion to creditors, according to court records.

As part of the bankruptcy, David’s Bridal reached a deal with lenders to reduce the company’s debt by more than $400 million. The agreement will allow David’s Bridal to continue to operate its more than 300 stores.

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