Sard Verbinnen is handling David’s Bridal Inc. as it irons out a recapitalization plan to avoid another round of bankruptcy.
The Conshohocken, PA-based firm, which declared Chapter 11 a year ago, receives a $55M cash infusion and reworks $276M in debt under the restructuring to enable it to execute a “compelling transformation strategy that is centered around our customer,” CEO Jim Marchum said in a statement.
He’s eager to change the “David Bridal’s experience by modernizing our branding and marketing, investing in tools and platforms to support brides during the entire wedding process, and enhancing the customer experience in stores and online.”
David’s Bridal, which sells about 25 percent of bridal dresses in the US, operates more than 300 stores in the US, Canada and the UK.
SVB’s John Christiansen and David Millar handle David’s Bridal.