David's Bridal is filing for bankruptcy protection but there is no danger for customers who have ordered dresses because operations are continuing as normal while the wedding and prom apparel retailer restructures, the private company said Monday.
The bankruptcy filing will wipe out more than $400 million in long-term debt, the firm said.
It said it has commitments for $60 million in new debtor-in-possession financing and expects to exit Chapter 11 in early January.
The 300-plus stores run by the Conshokocken, Pennsylvania-based company will continue to operate and online sales will continue unimpeded, company officials said.
There are three David’s Bridal stores on Long Island — in Lake Grove, Massapequa Park and Westbury, according to the retailer's website.
-- with Tory N. Parrish