FOREX Magazine
IBP Finance I
IBP Finance I
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FINANCIAL<br />
RATIO<br />
To be sure, David's Bridal said it voluntarily<br />
skipped the payment as it continues to<br />
negotiate a potential restructuring deal with<br />
its creditors. That means it has the financial<br />
wherewithal to make the payment.<br />
The company has a 30-day grace period to<br />
pay up, though S&P said it's "highly likely" that<br />
won't happen.<br />
"Our financial outlook is strong and we have<br />
ample liquidity to meet our key business<br />
objectives today and, in the future," David's<br />
Bridal said Thursday in a statement.<br />
"With the assistance of our financial and legal<br />
advisors, we are engaged in discussions with<br />
our lenders in order to reach a mutually<br />
agreed upon resolution designed to<br />
strengthen our balance sheet so we can<br />
increase our financial flexibility and further<br />
invest in our business."<br />
David’s Bridal still sells about one in three U.S.<br />
wedding dresses through its more than 300<br />
stores and website, with estimated annual<br />
retail revenue of $791 million, according to<br />
market research firm IBISWorld.<br />
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