Coronavirus

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.
Headshot of Richard Collings
By Richard Collings

May 7, 2020

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.

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Subscribe today!

To Read the Full Story Become an Adweek+ Subscriber

View Subscription Options

Already a member? Sign in

Headshot of Richard Collings

Richard Collings

Richard Collings is a retail reporter at Adweek.

Recommended articles
Related Articles
The Logans Roadhouse logo
Commerce

Casual Dining Chains Among Hardest Hit in Wake of Pandemicicon-image

By Richard Collings

a nike storefront
Data & Insights

Against Dreary Retail Backdrop, Nike Offers a Ray of Hopeicon-image

By Richard Collings

a neiman marcus store
Coronavirus

Neiman Marcus Could Be One of the First Retail Casualties of Coronavirusicon-image

By Richard Collings

a fast food worker handing over food at a drive through window
Food & Beverage

IFA Seeks $300 Billion to Offset Small Business Lossesicon-image

By Richard Collings

Microlearning
View All

Understanding How Social Values Can Help Brands Build Trust and Make Connections

Why Marketers Need Collaborative Work Management

The Power of Advertising on the Second Screen

Mastering the Art and Science of Subscriber Care

You Might Like

Creative Commerce Is at the Center of Industry Change

By Beth Ann Kaminkow, Global CEO, VMLY&R Commerce and CEO NY, VMLY&R

The Power of the U.S. Hispanic Consumer

By TelevisaUnivision

The State of Audio Advertising 2022

By Audacy

The Art of Shopper Recognition

By Acxiom