Marc Lasry, the billionaire co-founder of Avenue Capital Group, said on Wednesday that the firm has invested in some of the approximately $4.8 billion in debt of luxury department store chain Neiman Marcus Group.
As Hudson’s Bay steps up the pace of extracting value from its $5 billion property portfolio, the department store chain’s shareholders want it to reduce debt and not invest the proceeds in traditional retail operations.
Signa Holding GmbH, the Austrian group that owns German department store operator Karstadt, sent Hudson’s Bay Co this week details of the financing it has put together for its 3 billion euro bid for Kaufhof.
The designer, whose previous posts include Oscar de la Renta and Ralph Lauren, as well as heading up her own label, Tre, has joined The Collected Group, where she will lead Current/Eliott's men's and women's lines.
Saks Fifth Avenue owner Hudson’s Bay Co said on Wednesday it had received a bid for its German department store chain Kaufhof from Signa Holding, the Austrian property and retail group that owns Karstadt.