NEW YORK (AP)- Neiman Marcus, one of the largest retailers of its kind in America, has hit the mat and can’t get up in the wake of the coronavirus pandemic, and the chain is ready to file for bankruptcy, Reuters is reporting.
Neiman’s 43 stores all shut down during the self-quarantine, along with its Last Call stores and its 2, NYC Bergdorf Goodman department stores.
The Dallas-based company is carrying nearly $5 billion in debt, and the payments alone are millions of dollars a month … bottom line — they just can’t pay the bill … this according to the report, which says the bankruptcy filing could only be days away. It has also furloughed many of its roughly 14,000 employees.