×
61 251
Fashion Jobs
FOOT LOCKER
Security Command Center - Console Operator (Part-Time)
Permanent · Camp Hill
ULTA BEAUTY, INC.
Retail Operations Manager
Permanent · Niagara Falls
ULTA BEAUTY, INC.
Retail Operations Manager
Permanent · San Clemente
ROSS
Store Protection Specialist
Permanent · Beaverton
URBN
Urban Outfitters Photo Studio Coordinator
Permanent · PHILADELPHIA
URBN
Free People Associate Merchandise Planner
Permanent · PHILADELPHIA
URBN
Free People: Senior Buyer, Denim/Bottoms
Permanent · PHILADELPHIA
UNDER ARMOUR
Stock Teammate, Part-Time, $15 Per Hour
Permanent · KING OF PRUSSIA
UNDER ARMOUR
Stock Lead, pt
Permanent · KING OF PRUSSIA
UNDER ARMOUR
Stock Teammate, Part-Time 5am And 5pm Shift, $15 Per Hour
Permanent · HANOVER
UNDER ARMOUR
Stock Teammate, Part-Time, $15 Per Hour
Permanent · LAS VEGAS
UNDER ARMOUR
Stock Teammate, Part-Time 6am Shift, $15 Per Hour
Permanent · BALTIMORE
UNDER ARMOUR
Stock Teammate, Part-Time, 8pm-4am Shift, $15 Per Hour
Permanent · AURORA
UNDER ARMOUR
Stock Teammate, Part-Time 6am Shift, $15 Per Hour
Permanent · WICHITA
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, $15 Per Hour
Permanent · BARABOO
UNDER ARMOUR
Stock Teammate, Part-Time, $16 Per Hour
Permanent · TULALIP BAY
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, $15 Per Hour
Permanent · LINCOLN CITY
BLOOMINGDALE'S
Manager, Merchandising
Permanent · GARDEN CITY
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Newport Beach
Permanent · NEWPORT BEACH
SALLY BEAUTY CORPORATE
Outside Sales Representative- Cosmoprof- Alexandria, va
Permanent · ALEXANDRIA
SALLY BEAUTY CORPORATE
Outside Sales Representative
Permanent · FRESNO
SALLY BEAUTY CORPORATE
Content Operations Specialist
Permanent · DENTON
By
Reuters
Published
May 7, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Luxury department store chain Neiman Marcus files for bankruptcy

By
Reuters
Published
May 7, 2020

Neiman Marcus Group filed for bankruptcy protection on Thursday, marking one of the highest-profile collapses yet among retailers forced to temporarily close stores in response to the COVID-19 pandemic.

The Neiman Marcus store at Bal Harbour in Miami


Neiman Marcus, which filed for bankruptcy in a Houston federal court, said it reached agreement with creditors for $675 million of debtor-in-possession financing to aid operations while it attempts to reorganize.

The luxury department store chain follows J. Crew Group Inc, which filed for bankruptcy protection on Monday with a plan to hand over control to lenders.

Dallas-based Neiman Marcus also said it would cede control to creditors under the agreement that will eliminate $4 billion of debt. Its debt currently totals about $5 billion.

Reuters earlier reported that the company was preparing to file for bankruptcy within days.

Neiman Marcus, laden with debt after a private equity takeover, reached a deal with creditors for more financial breathing room last year that avoided a bankruptcy filing but succumbed in recent weeks to government orders that closed businesses deemed non-essential to slow the spread of the coronavirus.

“Like most businesses today, we are facing unprecedented disruption caused by the COVID-19 pandemic, which has placed inexorable pressure on our business,” Chief Executive Officer Geoffroy van Raemdonck said.

The nearly 113-year-old company in March furloughed many of its roughly 14,000 employees and temporarily closed all its 43 Neiman stores, two Bergdorf Goodman locations in New York and roughly two dozen Last Call stores.

It skipped debt payments in April, including one that only gave the company a five-day grace period to make good before defaulting.

The company said it expects to emerge from the process in early fall this year.

© Thomson Reuters 2023 All rights reserved.