Alfred Angelo, Inc., one of the world’s largest manufacturers and retailers of wedding dresses, has closed it stores and quietly filed for Chapter 7 bankruptcy protection. The company operates more than 60 Alfred Angelo Bridal Signature stores in the U.S. Its designs were sold at 1,400 retailers across the country and at more than 2,500 stores around the world.
The Florida-based bridal shop gave its customers (and employees) no warning, leaving brides-to-be across the country, many of whom plunked down hundreds of dollars in deposits for wedding and bridesmaid dresses, without dresses or a refund.
In the days immediately following the store closures, Alfred Angelo failed to post any information on its web site or official social media accounts. The company also did not respond to requests from media outlets for comment.
After a weekend of outrage from brides and questions from the media, the company broke its silence and left an emotionless response on its corporate web site:
“Alfred Angelo filed for Chapter 7 bankruptcy on July 14, 2017. As a result, all stores and wholesalers are closed. Margaret Smith was appointed Chapter 7 Bankruptcy Trustee. If you wish to be contacted regarding your order status once information is available please send an email to: firstname.lastname@example.org. We will post additional information regarding the status of dresses on this web-site as it becomes available.
We apologize for the inconvenience and hardship resulting from this event. We appreciate your patience. Thank you.”
Filing for Chapter 7 bankruptcy means the company intends to liquidate its assets and go out of business. It is not looking to restructure its debt. Under Chapter 7, creditors are left splitting the proceeds from the sale of any assets.
They may not have much to split, though. According to the bankruptcy filing, the company has between one and 49 creditors, less than $50,000 in assets, and up to $100.0 million in liabilities. Creditors have until November 27, 2017, to file a proof of claim against Alfred Angelo.
There is also a meeting set for 1 p.m. On August 28 at the Flagler Waterview Building in West Palm Beach, where a representative of Alfred Angelo will appear at a meeting of creditors. The representative of the company will be questioned under oath.
Not surprisingly, the bridal chain’s headquarters in Delray Beach is also the subject of an eviction lawsuit.
“Alfred Angelo,” Alfred Angelo, Inc., last accessed July 17, 2017.
“Alfred Angelo,” Facebook, last accessed July 17, 2017.
“Official Form 201,” U.S. Bankruptcy Court for the Southern District of Florida, July 13, 2017.