Neiman Marcus Group Ltd, the U.S. luxury retailer facing a US$2.8 billion loan coming due in two years, said on Friday it failed to reach an agreement with its noteholders and term lenders to restructure its debt.
Neiman Marcus said in a regulatory filing it was actively pursuing opportunities to improve its capital structure, although some or all of potential transactions or other alternatives may not be pursued by the company.
If the company was not able to ink a deal with creditors, its financial condition would be adversely affected, Neiman Marcus said.
Update: Neiman Marcus was acquired in 2013 by U.S. private equity firm Ares Management and Canada Pension Plan Investment Board (CPPIB) for US$6 billion.
(Reporting by Rama Venkat in Bengaluru; Editing by Sonya Hepinstall)
(This story has been edited by Kirk Falconer, editor of PE HUB Canada)