Published by: MCR
Shared article: Vogue
The Neiman Marcus Group became the first major luxury retailer to file for bankruptcy during the COVID-19 crisis. The company, which also owns Bergdorf Goodman and MyTheresa.com, came to an agreement with a majority of its creditors for a $675 million debtor-in-possession loan. In addition, the group has committed to a $750 million exit-financing package and a long-term refinancing structure that would put off key payments in the company’s already-incurred $4 billion of debt[…]
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