Neiman Marcus files for bankruptcy: Reuters

Dallas-based luxury retailer Neiman Marcus has filed for bankruptcy amid the COVID-19 pandemic, reported Reuters.

Dallas-based luxury retailer Neiman Marcus has filed for bankruptcy amid the COVID-19 pandemic, reported Reuters. The news wire noted that the department store chain “expects to emerge from Chapter 11 proceedings in early fall with a $750 million package from creditors that provided its initial bankruptcy loan.” Neiman Marcus is backed by Ares Management Corp and Canada Pension Plan Investment Board.

Source: Reuters