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The world we live in is home to a multitude of brands that each work in tandem to keep us entertained, properly nourished or simply fulfill our most dire needs. Over time, the products they provide can become so synonymous with everyday living that even the potential of seeing it leave the consumer market is heartbreaking.
Many with dreams of marital bliss are feeling that way at the moment following recent news that longtime wedding retailer David’s Bridal is at high risk for liquidation.
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According to CNN, the 73-year-old brick-and-mortar filed for Chapter 11 bankruptcy earlier this week (April 17) following pressing factors that include “inflation and competition from online retailers and secondhand retailers.” In the official filing, David’s Bridal reps also confirmed money-saving trends as another nail in the coffin, stating, “An increasing number of brides are opting for less traditional wedding attire, including thrift wedding dresses.” Add in the declining rate of marriages altogether and it’s easy to see why the retailer is struggling. Although its nearly 300 retail locations will stay open as the brand looks for a new buyer, a second bankruptcy in the span of five years is far from a sign of hope.
More details on what’s going down at David’s Bridal below, via CNN:
“David’s Bridal said it made progress since restructuring its business during its previous bankruptcy, but is ‘suffering under severe liquidity constraints.’
‘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,’ said David’s Bridal CEO James Marcum in a statement.
Bankruptcies are piling up in the retail sector as interest rates go up and discretionary spending slows down.”
The latter remark makes the impression that David’s Bridal is far from being alone in their struggles, with reports that Bed Bath & Beyond is in the same boat following the recent closing of 400 of its stores. Although the idea of clearing out the old to make way for the new is promising, there’s still a somberness that comes with saying goodbye to brands that’ve been part of our lives for decades. The nostalgia even got us thinking about a few other brands throughout American history that we’ve sadly had to bid adieu to.
Defunct Since:
2019
Defunct Since:
2023
Defunct Since:
2015
Defunct Since:
2006
Defunct Since:
2006
Defunct Since:
2009
Defunct Since:
2009
Defunct Since:
2021
Defunct Since:
2010
Defunct Since:
2011
Defunct Since:
2020
Defunct Since:
2017
Defunct Since:
2016
Defunct Since:
2021
Defunct Since:
2022
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