Neiman Marcus has hired an investment banking firm to help it restructure its debt, but is in no immediate risk of bankruptcy, according to Reuters.
The Dallas-based luxury retailer has hired Lazard Ltd. to help it shore up its balance sheet, sources told Reuters on Friday. While the company needs some relief from its $4.8 billion in debt, it isn’t a candidate for bankruptcy, the sources told Reuters.
On Sunday, Neiman Marcus responded with a statement saying it won’t comment on rumors and speculation, but added “We routinely retain consultants and advisors to evaluate opportunities to create long-term value for our associates, customers and other stakeholders and will continue to do so moving forward.”
It’s not a surpris…
Read the full article at: http://www.dallasnews.com/business/retail/2017/03/05/report-neiman-marcus-seeks-help-debt-restructuring