https://www.google.com/amp/s/www.cnbc.com/amp/2020/04/24/neiman-marcus-eyes-sunday-bankruptcy-filing-600-million-emergency-funding.html
Neiman Marcus will close most of its last call stores during bankruptcy but plans to keep all of its 43 full line stores open.
https://wwd.com/business-news/retail/neiman-marcus-group-bankruptcy-1203565784/
This article mentions that Neiman leases most of its properties...which obviously means little real estate to back new debt with. Looks like blood is in the water...
That's a great point. Does Neiman have any real estate carrying substantial value?
It's hard to find a silver lining with department stores these days.
Neiman’s rent for 43 stores in exclusive, high profile areas in probably more than the rent for 800 JC penny stores in middle-income, low-income areas.
Having only 43 stores might help their case somewhat. Compare that to JCP...totally different concepts of course but JCP has over 800 stores! Talk about having your head underwater in the age of online shopping!
I don't believe full line stores will not close, not for a second. The company is in horrible shape.
You can plan anything... Doesnt mean it happens...corporate spin from a bankrupt company...
Hard to believe!!!!!! Maybe for a couple of months
Do we really believe this?
We shall see.