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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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  1. Louis Vuitton introduces Visionary Journeys Seoul
  2. Exclusive Resorts purchases Inspirato for $59M
  3. Estée Lauder Cos., Jo Malone launch AI scent advisor
  4. Kering to acquire jewelry manufacturer Raselli Franco Group
  5. WatchBox looks for growth in editorial integration
  6. Burberry bans exotic skins
  7. Bulgari names Chinese actress Liu Yifei as newest global ambassador
  8. Dior builds five-story statement flagship in Beijing
  9. Savannah College of Art and Design debuts SCAD LUXE research center
  10. Luxury Women to Watch 2017
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