Neiman Marcus to file for bankruptcy as soon as this week - sources

[Algernon Moncrieff]

Reuters via MSN

The debt-laden Dallas-based company has been left with few options after the pandemic forced it to temporarily shut all 43 of its Neiman Marcus locations, roughly two dozen Last Call stores and its two Bergdorf Goodman stores in New York.

Neiman Marcus is in the final stages of negotiating a loan with its creditors totaling hundreds of millions of dollars, which would sustain some of its operations during bankruptcy proceedings, according to the sources. It has also furloughed many of its roughly 14,000 employees.

This is of interest because Neiman's and Bergdorf's are both stores catering to the upper 10% - 20%, unlike many of the other stores involved in Shopacolypse.

[msongs]

1. good thing trump interest rates are dead low these days nt

[Mike 03]

2. Nordstrom nervous too: "Hoping for the best"

Nordstrom Takes Steps to Improve Liquidity
The top department store company is shoring up cash to maintain solvency until the pandemic passes.

https://www.fool.com/investing/2020/04/20/nordstrom-takes-steps-to-improve-liquidity.aspx

[Turbineguy]

3. Needless Markup.

AKA

[Coventina]

5. Tots & Pears....n/t

[samplegirl]

6. Who the hell cares?

Last edited Mon Apr 20, 2020, 05:17 PM - Edit history (1)

Except those rich bitches who can afford a 600.00 handbag!
More upset with losing stores like JC Penny.

[redstatebluegirl]

7. I was thinking the same thing.

I could never even afford to buy anything on sale there.

[Talitha]

8. Is their bankruptsy legit, or are they cooking the books to get a piece of the govt hand-out?

[Algernon Moncrieff]

9. Fair question.

[Talitha]

11. BTW, didn't 'princess botox' peddle her crap there?

I seem to recall that store's name on a list of places to boycott. They might even be the one that unloaded her line by reducing the prices to dime-store level.

[Vogon_Glory]

10. I'm trying to remember if Neiman's was yet another leveraged buy-out

LBOs have been killing companies right and left. They might be great for the bankers, great for the take-over artists, but ruinous for the people who worked for those companies.

[sanatanadharma]

12. Seems that, like real people, corporate people are living paycheck to paycheck

Interesting to learn that the corporate world, businesses, operate on the edge of failure- always but one step ahead of their own creditors.

Could it be that capitalism is no more than a big ponzi scheme that falls apart when people drop out (for whatever reasons).

[Politicub]

13. Neiman Marcus is stupid expensive

I had no idea by how much until I wandered in to look at bedroom slippers as a gift for my husband. The least expensive pair was around $400. This is more than ten years ago. That chain exists in its own universe.