A David's Bridal storefront in Wilmington, Del.

David’s Bridal can start to think about a planned exit from bankruptcy court proceedings.

A Delaware bankruptcy court has confirmed the retailer’s restructuring plan, the final hurdle in the company’s plan to exit bankruptcy court. The retailer previously said it expects to complete its tour of bankruptcy duty later this month.

When the retailer exits bankruptcy, it will have reduced its debt by $450 million. That was part of the negotiated deal with lenders, most of its senior noteholders and equity holders. The company filed its prepackaged Chapter 11 bankruptcy court petition on Nov. 19.

Scott Key, chief executive officer of the bridal retailer, said, “During the court-supervised process, our more than 300 David’s Bridal stores have remained open and dedicated to delivering a five-star customer experience.”

He also said the process has led to the company exiting bankruptcy as a “stronger company with significantly less debt.”

The company previously arranged for exit financing of between $40 million and $60 million.

David’s Bridal was able to keep its stores in operation, and most of its stores are four-wall profitable on an EBITDA, or earnings before interest, tax, depreciation and amortization, basis. Its problem was its debt load from a leverage buyout.

The company still has challenges ahead, particularly from the direct-to-consumer bridal market. According to Key, “We have been listening to feedback from our customers and have made a number of changes to better meet their needs. We are providing fresh contemporary styles at lower prices, exceptional customer service, and innovative new tools to help in planning her wedding.” As for what’s new, Key cited a free universal registry tool, Blueprint Registry, new product categories and exclusive events with “top designers like Vera Wang.”

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