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Neiman Marcus in bankruptcy talks with lenders: Bloomberg Law

Published 03/23/2020, 08:23 PM
Updated 03/23/2020, 08:25 PM
© Reuters. Shoppers walk in front of a Neiman Marcus store as holiday shopping accelerates at the King of Prussia Mall

© Reuters. Shoppers walk in front of a Neiman Marcus store as holiday shopping accelerates at the King of Prussia Mall

(Reuters) - Luxury retailer Neiman Marcus Group Inc is in talks with lenders to file for bankruptcy as it struggles to ease its $4.3 billion debt load, Bloomberg reported on Monday, citing people familiar with the matter.

Neiman Marcus has been struggling with the debt load, due mainly to its 2013 leveraged buyout by Ares and Canadian public pension fund CPPIB from other private equity firms.

Bloomberg reported Neiman Marcus has held initials talks with lenders about a potential bankruptcy loan that would help keep the company running while it works out a recovery plan.

Neiman Marcus was not immediately available for a comment.

© Reuters. Shoppers walk in front of a Neiman Marcus store as holiday shopping accelerates at the King of Prussia Mall

Latest comments

My company is Ipek Kiramer houte couture lingerie from Istanbul Turkey. We wish all the best for Neiman Marcus : as an owner and designer of my company ı wish good luck in very short term.
workers fate in their hands. due to poor past Management IE: KK and her gain of hopped up fashion buyers not adjusting to the times since the great recession many loyal workers are going to be suffering the fate of past mistakes caused by past management staying to long at the party.
This is my family's life the Canadian pension fund is holding us and it's 12k works
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