Neiman Marcus Files for Bankruptcy Protection

The luxury retailer is the second significant holder of institutional debt to do so

The Neiman Marcus sign
Neiman Marcus is the latest retailer to fall victim to the pandemic.

Luxury retailer Neiman Marcus Group filed for Chapter 11 bankruptcy this morning in Texas as part of a restructuring agreement with its creditors to remove some $4 billion in debt from its balance sheet, the company announced.

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@RichCollings Richard Collings is a retail reporter at Adweek.