Neiman Marcus bankrupt, idled by virus, crushed by debt

By Katherine Doherty, Bloomberg
Neiman Marcus Group filed for bankruptcy after efforts to manage its crushing debt load unraveled amid the spreading coronavirus pandemic.
Creditors will take control of the luxury department store chain, according to plans outlined in a Chapter 11 petition filed in Houston. The move gives the Dallas-based luxury retailer a break by letting it stay in business while management works out a recovery plan.
The company, led by Chief Executive Officer Geoffroy van Raem