Neiman Marcus in bankruptcy talks with lenders: Report
Neiman Marcus struggles to ease its $4.3 billion debt load
Luxury retailer Neiman Marcus Group Inc is in talks with lenders to file for bankruptcy as it struggles to ease its $4.3 billion debt load, Bloomberg reported on Monday, citing people familiar with the matter.
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Neiman Marcus has been struggling with the debt load, due mainly to its 2013 leveraged buyout by Ares and Canadian public pension fund CPPIB from other private equity firms.
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Bloomberg reported Neiman Marcus has held initials talks with lenders about a potential bankruptcy loan that would help keep the company running while it works out a recovery plan.
Neiman Marcus was not immediately available for a comment.
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(Reporting by Nivedita Balu in Bengaluru; Editing by Aditya Soni)