Luxury US retailer Neiman Marcus files for bankruptcy
Luxury US retailer Neiman Marcus files for bankruptcy

New York (AFP) – Neiman Marcus on Thursday became the second major US retailer this week to file for bankruptcy protection as coronavirus shutdowns exacerbate an already bad outlook for struggling chains.The Dallas-based luxury retailer filed voluntary Chapter 11 proceedings in US Bankruptcy Court in Houston following a submission on Monday from US clothing retailer J. Crew.Neiman Marcus said it reached agreement with a majority of creditors to restructure the business and debt as it moves to gradually reopen stores following COVID-19 shutdowns.The company secured financing of $675 million to …

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