Hedge fund Mudrick Capital Management asked Neiman Marcus Group's independent directors on Tuesday to explore a combination with rival Saks Fifth Avenue, as the firm plans to reorganize under bankruptcy protection.
Stage Stores Inc filed for Chapter 11 bankruptcy late on Sunday, the latest casualty of the coronavirus pandemic following the collapse of luxury store chain Neiman Marcus and apparel retailer J. Crew Group Inc.
Under Armour Inc forecast on Monday a 50% to 60% drop in second-quarter revenue as most of its stores remained closed because of the COVID-19 pandemic, sending the athletic apparel maker’s shares down about 11%.
Neiman Marcus Group said on Friday it received court approval to access $675 million of its debtor-in-possession financing, which will allow continuity of the company's business during Chapter 11 bankruptcy proceedings.
Canada’s privately held Aldo Group Inc said on Thursday it would restructure under the Companies’ Creditors Arrangement Act (CCAA) as the impact of the Covid-19 outbreak weighed on the footwear retailer’s business.
Neiman Marcus Group filed for bankruptcy protection on Thursday, marking one of the highest-profile collapses yet among retailers forced to temporarily close stores in response to the COVID-19 pandemic.