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C Street Advisory Group handles David’s Bridal as the wedding dress retailer files for its second bankruptcy in five years and fires more than 9,200 workers.
David’s Bridal, which boasts of being the “only omni-channel bridal retailer of scale in the U.S.” plans to keep its stores open as its searches for a buyer that can operate the business going forward.
The company blames inflation, increased online competition and the shift to more casual weddings among reasons for its latest financial downfall.
CEO James Marcum said David’s Bridal “has successfully modernized our marketing and customer interaction processes and driven our retail service levels to best in class.”
The company is determined to focus on the future because it believes it plays “an important role in ensuring that every bride, no matter her budget, can have her perfect dress.”
One in four of US brides buys her gown at David’s Bridal.
C Street Advisory Group’s Jackie Rubin handles David’s Bridal.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
