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David's Bridal
bankruptRetail — Clayton Dubilier & Rice / Leonard Green
Deal Terms
Entry Year2012
Entry EV$1B
Entry Multiple7x
Leverage6x
Debt Amount$0.6B
Outcome
Exit Year2023
Risk Metrics
LTV (est.)60%
Debt / EV0.60x
Notes
CD&R/Leonard Green $1B LBO (2012). Filed Chapter 11 in Nov 2018 (emerged 2019). Filed AGAIN April 2023. Two bankruptcies in 5 years. PE debt load made competing with direct-to-consumer bridal startups impossible. CION Investment took control for $20M.