David’s Bridal Prepares for Bankruptcy

David’s Bridal Inc. (Conshohocken, Pa.) is expected to file for bankruptcy in the coming days.

According to The Wall Street Journal, the retailer is reportedly in negotiations with its lenders so it can present a prepackaged bankruptcy deal when it files. Depending on how the negotiations go, the filing could be delayed.

The private equity-backed retailer carries a heavy debt load and has been struggling as more customers shift to online shopping, which is what sources are citing as main reasons behind the move toward bankruptcy. 

Despite that, the company does not have plans to close stores as a result of the filing and is expected to continue doing business.