Luxury retailer Neiman Marcus files for bankruptcy
The high-end retailer is the first to file for bankruptcy in the US amid the coronavirus pandemic
07 May 2020 - 16:48
Bengaluru — Neiman Marcus filed for bankruptcy on Thursday after efforts to manage its crushing debt load unravelled amid the spreading coronavirus pandemic.
Creditors will take control of the luxury department store chain, according to plans outlined in a chapter 11 petition filed in Houston. The move gives the Dallas-based luxury retailer a break by letting it stay in business while management works out a recovery plan. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.