• Neiman Marcus Reportedly Eyeing Bankruptcy Filing

    4 days ago - By Hypebeast

    Neiman Marcus is reportedly on the brink of filing for bankruptcy. In a new report from Bloomberg , the luxury retailer is currently speaking with lenders about how to get rid of its massive $4.3 billion debt load. A Chapter 11 bankruptcy filing would keep the famed retailer in business to work on a recovery plan, giving the company leeway in terms of lowering the amount borrowed as well as to shut down lackluster sectors to streamline and minimize costs. The rapid spread of the novel coronavirus has equally made it more difficult for retailers as mass store closures and self-isolation...
    Read more ...