https://www.reuters.com/article/us-neimanmarcus-bankruptcy-exclusive/exclusive-neiman-marcus-to-file-for-bankruptcy-as-soon-as-this-week-sources-idUSKBN2210CW
The bankruptcy filing could come within days, though the timing could slip, the sources said. Neiman Marcus skipped millions of dollars in debt payments last week, including one that only gave the company a few days to avoid a default.
Other department store operators that have also had to close their stores are battling to avoid Neiman Marcus’ fate. Macy’s Inc and Nordstrom Inc have been rushing to secure new financing, such as by borrowing against some of their real estate. J.C. Penney Co Inc is contemplating a bankruptcy filing as a way to rework its unsustainable finances and save money on looming debt payments, Reuters reported last week.