The Conshohocken-based affordable wedding gown retailer announced that it completed its sale to business development company CION Investment Corp. Monday, halting a series of chaotic months that included layoffs and a bankruptcy announcement.
Through a $20 million investment, David’s Bridal is expected to continue operating up to 195 stores while preserving 7,000 jobs nationwide, according to the announcement of the sale. The wedding gown retailer, which had more than 300 stores, also has locations in Canada and Mexico.The company, which once claimed it sold one in three wedding gowns in the country, has struggled to keep up with changing buying habits, exacerbated by the pandemic.
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