Nieman Marcus could file for bankruptcy

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Monday, April 20th, 2020 6:07am

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Washington, DC (ABC) - Economic experts said while businesses nationwide stay closed, some have the reserves to stay afloat, while those who were in shaky ground before the pandemic are truly endangered.

ABC News reported that Nieman Marcus could file for bankruptcy as early as this week.

It is a private equity-owned retailer, saddled with debt.

They have fallen behind on debt payments.

The company owns a chain of luxury department stores owned by the Neiman Marcus Group and is headquartered in Dallas, Texas.

The company has furloughed nearly 14,000 employees and closed 43 locations during the pandemic.

 

 

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