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NEWS AND VIEWS THAT IMPACT LIMITED CONSTITUTIONAL GOVERNMENT

"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams

Monday, April 20, 2020

It Begins: Neiman Marcus to File for Bankruptcy



A Giant FUCK YOU from
Democrats and Republicans
  • Let's be blunt. The political hacks closed the economy down overnight. Now they are taking their own fucking sweet time opening it back up.


Neiman Marcus is the frist major US department store to go bankrupt due to government forced shutdowns of its 43 locations.

Many of 14,000 employees were furloughed weeks ago.

The Neiman Marcus Group also has two dozen Last Call stores and two Bergdorf Goodman stores in New York.

Neiman Marcus Group is preparing to seek bankruptcy protection as soon as this week, becoming the first major U.S. department store operator to succumb to the economic fallout from the coronavirus outbreak, people familiar with the matter said.
The debt-laden Dallas-based company has been left with few options after the pandemic forced it to temporarily shut all 43 of its Neiman Marcus locations, roughly two dozen Last Call stores and its two Bergdorf Goodman stores in New York.
Neiman Marcus is in the final stages of negotiating a loan with its creditors totaling hundreds of millions of dollars, which would sustain some of its operations during bankruptcy proceedings, according to the sources. It has also furloughed many of its roughly 14,000 employees.

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