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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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  1. Rosewood London opens ski-inspired winter terrace
  2. Louis Vuitton courts rapper Future as ‘Friend of the House’
  3. What’s at the end of the catwalk? Overtime pay, lunch breaks and other worker protections
  4. Ruinart reveals annual Carte Blanche creative collaboration
  5. Longines announces latest Ambassador of Elegance
  6. Coty earns ‘A’ score from CDP
  7. Capri Holdings closes Versace divestiture
  8. 85pc of recent, pending Gen Z car buyers considering luxury vehicle purchase: report
  9. Chanel unleashes ‘From Dream to Reality’
  10. Hermès, Goyard lead consigner sales in 2025: Rebag
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