Neiman Marcus expects to emerge from bankruptcy by end-September
Re-org plan approved by Houston-based bankruptcy court
We do not want to acquire Neiman Marcus: Related Companies chairman
Related Companies chairman and Miami Dolphins owner Stephen Ross on the Hudson Yards project in New York City, the state of the retail and commercial real estate sectors, President Trump's infrastructure plan, his reaction to the potential deal for the Florida Marlins and the future of the Miami Dolphins.
Neiman Marcus Group said on Friday it expected to emerge from Chapter 11 bankruptcy by the end of this month under a restructuring plan that is likely to eliminate more than $4 billion of its debt.
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HEDGE FUND FOUNDER ARRESTED IN NEIMAN MARCUS-LINKED CASE
The luxury department store chain filed for bankruptcy protection in May, in one of the highest-profile retail collapses during the COVID-19 pandemic.
The 113-year old company said certain institutional investors will fund a $750 million exit financing package that would fully refinance its debtor-in-possession loan and provide additional liquidity for its business.
NEIMAN MARCUS AT NYC'S HUDSON YARDS COULD BECOME OFFICE
The Bankruptcy Court for the Southern District of Texas, Houston Division, approved Neiman Marcus' reorganization plan.
Clothing company J.Crew Group Inc said last week it expects to emerge from bankruptcy in early September.