Neiman Marcus gets 3 yr lifeline from creditors: Dallas Morning News

Neiman Marcus has reached an agreement in principle with its creditors that hold nearly $5 billion of its debt, Dallas Morning News is reporting. Neiman, of Dallas, has three more years to transform its business, the story said. Neiman has had to pay annual interest of $300 million on its $5 billion debt load that came from two LBOs in the past 10 years, Dallas Morning News said.