Wedding dress retailer David’s Bridal has decided not to make an interest payment that was due Oct. 15 and is negotiating with its lenders, WSJ Pro Bankruptcy reported. “We are engaged in discussions with our lenders in order to reach a mutually agreed upon resolution designed to strengthen our balance sheet so we can increase our financial flexibility and further invest in our business,” a David's Bridal spokesman said. The Conshohocken, Pa.-based retailer, which hired restructuring adviser Evercore earlier this year, said that it doesn’t expect day-to-day operations to be affected. It has ample liquidity to meet key business objectives and the discussions with lenders have been constructive, the spokesman said. The company has nearly $900 million in debt, including $270 million in unsecured notes that mature in October 2020, a $497 million term loan that matures in October 2019 and a $125 million asset-based revolving loan due in December 2019, according to FactSet.
