It is not looking good for Neiman Marcus Group. The group is exploring "strategic alternatives" with one of the options to sell the company. Company's heavy debt of $4.9 billion and decline in sales is what dragging the company down. The debt load stems from the $6 billion acquisition of the company by the Canada Pension Plan Investment Board and Ares Management in 2013.
Hudson’s Bay Co. is said to be in talks about a possible takeover of Neiman’s.
The latest from The 89th Academy Awards!
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The chain plans to concentrate on licensing, e-commerce and selling through other retailers.