Struggling Neiman Marcus Group Puts Itself Up for Sale
March 15, 2017
"Neiman Marcus Group, amid declining sales and earnings, is exploring “strategic alternatives” which may include the sale of the company or other assets, as well as other initiatives to improve its capital structure."
"The company has been dragged down by its heavy debt load of $4.9 billion, a situation compounded by several seasons of disappointing performance. The debt load stems from the $6 billion acquisition of the company by the Canada Pension Plan Investment Board and Ares Management in 2013."