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Retail

US department store giant Neiman Marcus Group files for bankruptcy, sheds $4B in debt

May 7, 2020

The Neiman Marcus store in New York's glitzy Hudson Yards area was the last major investment by the department store chain. Image credit: Neiman Marcus The Neiman Marcus store in New York's glitzy Hudson Yards area was the last major investment by the department store chain. Image credit: Neiman Marcus

 

By Mickey Alam Khan

Heavily indebted Neiman Marcus Group, owner of its eponymous department store chain and New York’s Bergdorf Goodman, has filed for Chapter 11 bankruptcy as expected.

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