SAN ANTONIO – David’s Bridal laid off 63 employees at the company’s two San Antonio locations in mid-July, documents obtained by KSAT show.
The layoffs came a week before the stores assumed new ownership and prepared for a “reimagining period.”
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The company closed a transaction with CION Investment Corporation, a business development company, in late July. The deal gets David’s Bridal out of bankruptcy and will keep 195 David’s Bridal locations open, including two in San Antonio.
The company filed for bankruptcy in April, citing the impacts of the COVID-19 pandemic on the wedding industry. In 2018, another bankruptcy filing was made due to growing debt.
Before being purchased by CION Investment, seven David’s Bridal Stores were closed in Hurst, Beaumont, Waco, Austin South, Corpus Christi, Abilene and College Station.
According to documents from the Texas Workforce Commission, 63 employees were issued WARN notices on July 17, per federal law, amid company-wide layoffs.
It’s not clear how many total employees remain at the stores nor the total number laid off in San Antonio.
2023 WARN Notice Listings by Mason on Scribd
In an emailed statement, the company cited a “reimagining” period after the CION announcement.
“The reimagined David’s Bridal will continue operations at up to 195 stores across the country, including a strong presence in Texas, and an industry-leading e-commerce platform so we can continue to serve all brides and customers and preserve 7,000 jobs across the U.S.,” the company said. “Our new shape is a sign of promise and progress as we continue to make dreams happen for our customers with a company ready for the future. We have a lot of exciting news to share as our evolution and transformation progresses in the weeks ahead, so stay tuned.”
The effects of the COVID-19 pandemic were a leading reason for the company to restructure, according to a statement from CEO Jim Marcum on the company’s website.
“We successfully finalized a sale process, and we’re moving forward with new ownership that stands behind our vision and our promise,” Marcum said in the statement.