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Neiman Marcus files for Chapter 11 bankruptcy protection

New York city New York covid-19 pandemic Coronavirus
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A view of Neiman Marcus at The Shops at the Hudson Yards during the coronavirus pandemic on April 22, 2020 in New York City.(Photo by Noam Galai/Getty Images) NEW YORK - Neiman Marcus has filed for Chapter 11 bankruptcy protection, sounding an ominous note for department stores during the coronavirus pandemic.

The debt-laden Dallas-based company had to temporarily shut all 43 of its Neiman Marcus locations and its two Bergdorf Goodman stores in New York.

According to a press release from the company, the move will allow Neiman Marcus to substantially reduce its debt load and interest payments while “supporting continued operations during the COVID-19 pandemic and beyond.” “Prior to COVID-19, Neiman Marcus Group was making solid progress on

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