Luxury retailer Neiman Marcus files for bankruptcy as it struggles with debt and coronavirus fallout
Business

Another Luxury retailer files for bankruptcy over debt issues

US luxury retailer Neiman Marcus, saddled with debt and hit by the coronavirus pandemic, filed for bankruptcy on Thursday with a deal to hand its business over to its creditors. The bankruptcy filing will help it eliminate roughly $4 billion in debt that remains as a memento from its sale to private equity firms Ares Management and the Canada Pension Plan Investment Board in 2013.

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Thu May 07 - Cnbc

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