Neiman Marcus eyes Sunday bankruptcy filing [MSN Money]
COMPAGNIE FNCE RCH UN/ADR (CFRUY)
NASDAQ:AMEX Investor Relations:
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Source: MSN Money
© New York PostNeiman Marcus could file for bankruptcy as soon as Sunday and is in talks with its currt lders about raising roughly $600 million in emergcy financing to fund operations through the rtructuring, people familiar with the situation tell CNBC.Load ErrorIn bankruptcy, the retailer will work to flush its more than $ billion of debt leftover from its sale to Ar Managemt and Canada Psion Plan Invtmt Board in 0. Ev before the coronavirus pandemic struck, that debt acted as an albatross, limiting its ability to invt in technology as new competitors like Yoox's Net-A-Porter croached on its once untouchable position in luxury retail.Neiman Marcus is hoping its status as a luxury brand will help it emerge from the crisis a leaner and stronger company. The departmt store chain also owns high-d Bergdorf Goodman in New York's midtown.It do not plan to close any of its Neiman Marcus stor as part of its planned Sunday bankruptcy filing, the people said. Still, retailers sometim whittl
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