CEO James Marcum told WWD the bridal retailer still has brides covered for their big days and discussed the company’s Chapter 11 filing.
The 70-year-old chain has some experience delivering through tough times and the CEO said the company has “never missed a dress” through COVID-19 despite factory shutdowns, shipping back-ups in the Suez Canal and the rest of it.
While the firm’s 2018 bankruptcy was tied to a mountain of debt following a private equity buyout — the court took $434 million in debt off its books in that process — this week’s process was more of an echo of the pandemic, the CEO said. Along the way, the company developed what Marcum described as “a complicated capital structure” as it took on more debts to navigate the landscape.
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