Neiman Marcus Files for Chapter 11 Bankruptcy, the First Department-Store Retailer To Do So Due to the Coronavirus

What's Inside

Neiman Marcus began Chapter 11 bankruptcy proceedings on May 7, 2020, making it the first US department-store retailer to file for bankruptcy amid the ongoing coronavirus crisis. We outline the proceedings, including the following:

• The restructuring support agreement
• Emergence from Chapter 11

We discuss the company’s recent struggles in the luxury market and the impact of the coronavirus pandemic on Neiman Marcus.

Read our Weekly US and UK Store Openings and Closures Tracker to see how other major retailers in the US and UK are currently faring the coronavirus crisis. Visit the Coronavirus Tracker page to view data on the development of the coronavirus pandemic and the impact on retail—including temporary store closures and reopenings in the US.