David’s Bridal sale to NY investment firm approved, shutdown avoided

After a five-month sale process and three months of bankruptcy proceedings, David’s Bridal has secured a buyer.

Judge Christine M. Gravelle of the United States Bankruptcy Court for the District of New Jersey on July 14 approved the sale of almost all of the Conshohocken, New Jersey-based wedding dress retailer’s assets to CION Investment Corp., a New York-based investment and business development company. As a part of the deal, CION will also assume $23 million in critical liabilities, pay various…