Walking into a David’s Bridal shop in Louisiana or other state often leads to scenes of smiling brides and their various entourages of mothers, prospective mother-in-laws and numerous bridesmaids, matrons, flower girls and other friends. The popular bridal gown store not only provides a wide variety of choices for those preparing to exchange marriage vows but also for any number of other formal wear occasions. Just because a store is often full of potential customers, however, does not guarantee that everything is going well financially for the owners; as for David’s Bridal, the company recently took steps to seek immediate debt relief.
David’s Bridal company owners say their plan will allow them to drop approximately $400 million in debt. Thankfully, the particular payment restructure plan the company has secured allows their 300 stores, as well as their online markets, to continue operation without interruption. A spokesman for the company said owners are thrilled that they will be able to resolve their current financial problems while continuing to carry on 60 years of tradition in providing luxury gowns for their customers.
As many business owners and consumers understand, missing an interest payment can set off a series of actions that wind up escalating the initial financial problems that caused the payment to be missed to begin with. That appears to be the key factor that landed David’s Bridal in default. The good news is that it may be possible to get back on solid financial ground within six months, thanks to the Chapter 11 bankruptcy plan the company is employing.
Even the most serious financial problems do not necessarily have to cause permanent damage. There are often multiple ways to achieve debt relief when financial strains become too burdensome for Louisiana home or business owners. It is always a good idea to consult with an experienced attorney to explore any and all options that might be available.