Alfred Angelo had more than $78 million in debt, documents reveal

Business News

EAST PROVIDENCE, R.I. (WPRI) — A popular bridal chain was more than $78 million in the red when it filed for bankruptcy last month, according to court documents filed on Friday.

Alfred Angelo’s 19 affiliated companies officially filed for Chapter 7 bankruptcy on July 17.

Rather than restructure its debt, Alfred Angelo abruptly closed all of its shops nationwide earlier that week, leaving brides and bridesmaids scrambling to find dresses.

Documents filed in U.S. District Court for the Southern District of Florida revealed the company owed its creditors a total of $78,292,688.04.

A meeting for Alfred Angelo’s creditors is scheduled for Aug. 28, according to federal court filings, and creditors have until Nov. 27 to file a proof of claim.

Alfred Angelo had been around since the 1930’s. According to its website, the chain operated more than 60 stores across the U.S. and sold bridal gowns and special occasion dresses at more than 1,400 retailers.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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