The Dallas-based retailer plans to cede control to creditors in exchange for eliminating $4 billion of debt. Its debt currently totals about $5 billion

Neiman Marcus Group, the 113-year-old chain known for its high-end department stores, filed for bankruptcy on Thursday, making it the second major retailer to do so during the coronavirus pandemic. The Dallas-based retailer has struggled to pay down nearly $5 billion in debt, much of it from leveraged buyouts in 2005 and 2013. The pandemic […]

Luxury department store chain Neiman Marcus Group Ltd. LLC has filed for bankruptcy protection citing the severe impact of coronavirus or COVID-19 pandemic on its business. In a statement, Neiman Marcus Group said it has entered into a Restructuring Support Agreement or RSA with a significant majority of its creditors to undergo a financial restructuring.

Neiman Marcus has filed for Chapter 11 bankruptcy protection, the first department store chain and second major retailer to be toppled by the coronavirus pandemic.

Neiman Marcus has filed for Chapter 11 bankruptcy protection, the first department store chain and second major retailer to be toppled by the coronavirus pandemic.

U.S. luxury department store chain Neiman Marcus Group said on Friday it received court approval to access $675 million of its debtor-in-possession financing, which will allow continuity of the company's business during Chapter 11 bankruptcy proceedings and enable it to pay employees and vendors.

U.S. luxury department store chain Neiman Marcus Group said on Friday it received court approval to access $675 million of its debtor-in-possession financing, which will allow continuity of the company's business during Chapter 11 bankruptcy proceedings and enable it to pay employees and vendors.

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. Freddie Joyner has more.

U.S. luxury department store chain Neiman Marcus Group said on Friday it received court approval to access $675 million of its debtor-in-possession financing, which will allow continuity of the company's business during Chapter 11 bankruptcy proceedings and enable it to pay employees and vendors.

Neiman Marcus, the 112-year-old storied luxury department store chain, has filed for Chapter 11 bankruptcy protection, the first department store chain to be toppled by the coronavirus pandemic.

The luxury department store chain had been struggling with competition from online rivals and dwindling cash before the pandemic.

CNBC's Courtney Reagan reports on retailer Neiman Marcus' decision to file for Chapter 11 bankruptcy amid the coronavirus pandemic.

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May 9 (Reuters) - U.S. luxury department store chain Neiman Marcus Group said on Friday it received court approval to access $675 million of its...

U.S. luxury department store chain Neiman Marcus Group said on Friday it received court approval to access $675 million of its debtor-in-possession financing, which will allow continuity of the company's business during Chapter 11 bankruptcy proceedings and enable it to pay employees and vendors.

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. Freddie Joyner has more.