David’s Bridal files for Chapter 11 bankruptcy

David’s Bridal filed for bankruptcy protection on Monday, after confirming suspicions last week and reassuring customers they weren’t going anywhere.

The wedding and prom retailer said there is no danger for customers who have ordered dresses, saying operations would continue as normal during the Chapter 11 restructuring.

The filing will wipe out more than $400 million in long-term debt, the company said Monday. The privately held retailer, based in Conshohocken, Pennsylvania, has between half a billion and one billion in liabilities, and between 100 million and 500 million in assets, according to bankruptcy documents.

The copmany has commitments for $60 million in new debtor-in-possession financing and expects to exit Chapter 11 in early January.