David's Bridal files for bankruptcy

David's Bridal is filing for bankruptcy protection but the company says there is no danger for customers who have ordered dresses because operations continuing as normal while the wedding and prom retailer restructures.

The bankruptcy filing, the private company said Monday, will wipe out more than $400 million in long-term debt.

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, company will continue to operate and online sales will continue unimpeded, according to a post on the company's website.

"We are, and will continue to be, open for business" the company posted.

With the Associated Press