Report: Neiman Marcus Inches Closer to Bankruptcy

The Neiman Marcus Group is reportedly weeks away from possible bankruptcy proceedings, according to a report from Reuters.Neiman was taken private in 2013 in a $6 billion leveraged buyout by Ares Management and Canada Pension Plan Investment Board. 

Neiman Marcus also operates Bergdorf Goodman and Last Call stores, which were all temporarily closed over the COVID-19 outbreak. The company reportedly has more than $4 billion in debt with interest payments due starting April 15. 

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Source Fool.com