Bridal retailer Alfred Angelo has closed, threatening to turn brides’ big day into their biggest disappointments.
The company filed for bankruptcy on Friday. The retailer, which had been in business for 80 years operated more than 60 bridal shops in the U.S. and sold through more than 1,400 other retailers worldwide, according to its site, where a notice was posted announcing the company had halted operations.
The company, which also offered a Disney-licensed line of gowns, intends to liquidate all assets, according to Stearns Weaver Miller, which is representing the retailer. Lawyer Patricia Redmond told the Los Angeles Times Alfred Angelo will seek permission to release any dresses waiting for brides as well as a shipment of dresses from China worth $1.2 million.
The bankruptcy filing lists the number of creditors between 1 and 49 with assets capping out at $50,000 and liabilities ranging from $50 million to $100 million. Several affiliates, including Hacienda Brides, Brides Mart, LP, AA Bridal Midwest, LLC and Piccione Fashion Ltd, all filed for chapter 7 protection as well.
Redmond lists portfolio company Check Asset Management as a top creditor at $54 million and credit card processor Card Connect as another with $5 million outstanding. Others expected to file claims include vendors in China as well as disgruntled brides-to-be.
In the company’s post, the retailer asked for patience as it tries to provide information on all orders. But brides-to-be aren’t known for being long-suffering. The Wall Street Journal spoke to a bride and several bridal shops but turned up no obvious reason for the company’s abrupt closure.
One retailer expressed concern that the situation would give independent shops like hers a bad name. “What this does is give brick-and-mortar stores like me that have been in business for 49 years a bad rap,” Sue Maslowski, owner of Jay West Bridal in Haddonfield, N.J., told the publication. “Brides will be reluctant to put deposits down, afraid we’ll go out of business.”