Getting married is both exciting and stressful, as many married people in Ohio know well. There is the ceremony to plan, the dress to buy, the caterer to hire and more. When things go wrong and the dress fails to arrive on time, stress levels can sky rocket. That is what is happening to many in the state and around the country when a bridal dress chain filed bankruptcy as a result of its business debt recently.
The retailer, Alfred Angelo, may be familiar to Ohio readers as the business had several outlets in the state. The bridal dress business was large and many people had ordered and paid in full or partially for dresses for their upcoming weddings. Now, they are learning that the retailer was struggling with large business debt that resulted in the closure of every one of its stores recently.
Brides who have ordered dresses have some hope of seeing them, a report suggests. However, that hope may be dim. The bankruptcy trustee is reviewing all open orders on a case-by-case basis to see of the dresses can be delivered to the brides, who are now creditors, just like former employees and those to whom the retailer owed money.
Business debt can sink many types of businesses in Ohio. When a company is unable to pay what it owes, sometimes there is little choice but to seek the protections offered by the Bankruptcy Code. This typically allows the financial issues to be addressed in a responsible and orderly fashion, ultimately resulting in a formal discharge and the opportunity for the business owner to move forward toward new investment opportunities.
Source: dispatch.com, “Bridal-shop chain posts apology, points brides to bankruptcy trustee“, Tim Feran, July 17, 2017