David’s Bridal files for bankruptcy

David’s Bridal files for bankruptcy

CONSHOKOCKEN, PA.

David’s Bridal is filing for bankruptcy protection but there is no danger for customers who have ordered dresses because operations continuing as normal while the wedding and prom retailer restructures.

The bankruptcy filing, the private company said Monday, will wipe out more than $400 million in long-term debt. The 300-plus stores run by the Conshokocken, Pa., company will continue to operate and online sales will continue unimpeded.

It operates a store in Niles .

Nissan head arrested

YOKOHAMA, Japan

Nissan Chairman Carlos Ghosn, who became one of the auto industry’s most powerful executives by engineering a turnaround at the Japanese manufacturer, was arrested Monday and will be fired for allegedly underreporting his income and misusing company funds, the automaker said.

The scandal reverberated across the globe and abruptly threw into question Ghosn’s future as leader of the Renault-Nissan-Mitsubishi alliance, which sold 10.6 million cars last year, more than any other manufacturer.

Nissan said Ghosn, 64, and another senior executive, Greg Kelly, were accused of offenses involving millions of dollars that were discovered during a monthslong investigation

Stock market dives

NEW YORK

Big technology and internet companies tumbled again Monday, leading to broad losses across the stock market. The Dow Jones Industrial Average briefly fell 500 points.

Apple, Microsoft and Amazon, the most valuable companies on the market, sustained some of the worst losses. Facebook, another longtime investor darling that has fallen out of favor since this summer, also skidded.

After a brutal October, stocks had started to recover early this month. But continued losses for tech companies have sent major indexes lower again.

Evacuation orders lifted in California

PARADISE, Calif.

Authorities in Northern California are lifting mandatory evacuation orders for communities south and northwest of a deadly blaze that decimated the town of Paradise.

The Butte County Sheriff’s Office said Monday several communities near Paradise can be re-entered, but it urged residents to make sure they have food, water and fuel in their vehicles and to avoid using the roads as much as possible.Officials say fire crews are still in the area working to clear downed utility poles, burned trees and other hazards.

Cal Fire officials say the blaze has killed at least 77, destroyed nearly 300 apartment buildings and more than 10,000 homes.

Woman in homeless scam: I was duped

TRENTON, N.J.

A woman charged with scamming GoFundMe donors out of more than $400,000 with a fake story about a homeless veteran was duped by her former boyfriend and genuinely thought she was helping the man, her attorney said Monday.

James Gerrow told ABC’s “Good Morning America” that Mark D’Amico was “calling the shots” in the alleged scheme that resulted in criminal charges last week against Katelyn McClure, D’Amico and homeless Marine Johnny Bobbitt.

The criminal complaint alleges the three concocted a feel-good story about the couple reaching out to help Bobbitt after he gave McClure his last $20 when her car ran out of gas in Philadelphia last year.

Associated Press

Then McClure and D’Amico allegedly spent all the money on luxury items and casino trips.