Neiman Marcus Likely to File for Bankruptcy Within Days of Finalizing Deal With Lenders

It would be the second retailer with a significant amount of institutional debt to do so

Learn how to market with the modern consumer’s wants and needs in mind at Commerceweek, July 11–12, with brand leaders from Visa, Uber, TikTok and more. Sign up now to save 35%.

Neiman Marcus is likely to file for bankruptcy as soon as this week as it nears a deal with a group of lenders led by Pacific Investment Management Co. (Pimco), which would gain control of the company via a debt for equity swap, sources familiar with the situation confirmed to Adweek, who requested anonymity due to the confidentiality of the negotiations.

These lenders would include Davidson Kempner Capital Management and Sixth Street Partners, the sources also confirmed, which would provide the financing for the reorganization along with Pimco.



Subscribe today!

To Read the Full Story Become an Adweek+ Subscriber

View Subscription Options

Already a member? Sign in