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Luxury retailer Neiman Marcus emerged from Chapter 11 bankruptcy protection today after completing its restructuring process, the company announced.
The Dallas-based department store chain, which is also the parent of Bergdorf Goodman, eliminated more than $4 billion in debt and the $200 million in annual interest expense tied to that debt, the announcement said.
“While the unprecedented business disruption caused by Covid-19 has presented many challenges, it has also given us the opportunity to reimagine our platform and improve our business.
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