NEW YORK (1) – Neiman Marcus Group skipped a debt payment due this week, the most recent signal of a money crunch pushing the U.S. luxurious division retailer chain to the brink of a doable bankruptcy after it briefly closed shops amid the coronavirus pandemic.
FILE PHOTO: The Neiman Marcus signal exterior a retailer in Golden, Colorado December 9, 2009. REUTERS/Rick Wilking
The Dallas-based firm’s determination to skip the payment has put it in default on that obligation, based on a letter despatched to the retailer from a bondholder owed the cash, hedge fund Marble Ridge Capital LP.
The retailer has made bankruptcy preparations that embody discussions with collectors on financing to help operations throughout court docket proceedings, 1…