Reuters reported David’s Bridal is close finalizing a deal for a debtor-in-possession financing package with Oaktree Capital and other first-lien debt holders.

According to Reuters, the DIP package is expected to be between $50 million and $60 million, with the deal to precede a declaration of Chapter 11 by the troubled retailer.

Reuters added Oaktree will take equity in David’s should the deal go through.