FOREX Magazine
IBP Finance I
IBP Finance I
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FINANCIAL<br />
RATIO<br />
David's Bridal flirts with possible<br />
bankruptcy after skipping debt<br />
payment<br />
13<br />
The nation's leading wedding retailer is flirting<br />
with the possibility of bankruptcy protection,<br />
which often involves some store closures,<br />
after skipping a key debt payment.<br />
David's Bridal, whose tight grip on the<br />
wedding business has loosened in recent<br />
years amid digital competition and declining<br />
marriage rates, failed to make a key loan<br />
payment Monday.<br />
That move served as a warning to creditors<br />
that the company is barreling toward a<br />
restructuring effort of some kind. Failing to<br />
make a debt payment is often a precursor to<br />
filing for Chapter 11 bankruptcy protection.<br />
There's a "very high likelihood" of bankruptcy<br />
or a consensual debt restructuring for David's<br />
Bridal, said Mathew Christy, an S&P Global<br />
Ratings analyst who tracks the retailer.
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