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After four months of court proceedings, the Dallas-based luxury retailer will have shed the bulk of its $ 5 billion debt load and gained new owners, including
Davidson Kempner Capital Management, Sixth Street Partners and Pacific Investment Management, the largest shareholder controlling three of the
441:
in May 2020. The debtors requested joint administration of the cases under Case No. 20-32519. According to the company's CEO, Geoffroy van
Raemdonck, the filing was a direct result of the COVID-19 pandemic in the United States. The company's website, mytheresa.com, was not part of the bankruptcy. At
428:
In June 2022 Neiman Marcus Group reported their highest sales volume in almost half of their stores, and sales of their 20 best-selling brands grew by 70% above pre-COVID levels in 2019. The company has also been attracting younger customers, with the average age falling by seven years from
1099:
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1021:
1100:"HBC, Parent of Saks Fifth Avenue, to Acquire Neiman Marcus Group for $ 2.65 Billion and Establish Saks Global, a Technology-Powered Luxury Retail Company"
408:. In August 2015, the company again announced it was preparing for an initial public offering. In late 2015 Neiman Marcus became a stand-alone company.
469:
announced its pending acquisition of the Neiman Marcus Group on July 4, 2024. The purchase is valued at $ 2.65 billion, with financing facilitated by
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481:. The new Saks Global division will be created to oversee Bergdorf Goodman, Neiman Marcus, and the American operations of the HBC-owned
425:
was spun off and filed for IPO on the NYSE, valuing it at $ 2.2 billion which increased to $ 3 billion during the first day of trading.
347:) originally held 60-percent stake in the new company, and later reduced to 10-percent stake in 1999. The new company held ownership of
1048:
860:
728:
820:
442:
the end of
September 2020, Neiman Marcus exited Chapter 11 bankruptcy, and as of 2022 is owned by a consortium of investment firms (
1074:
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1006:
887:
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836:"Neiman Marcus has invested in an online secondhand luxury handbag store in its bid to woo millennial and Gen Z shoppers"
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1262:
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Store count includes 36 Neiman Marcus, 5 Neiman Marcus Last Call, and 2 Bergdorf
Goodman locations.
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959:"After A Year Of Sweeping Change, Neiman Marcus Holds Tight To Tradition In Its Christmas Book"
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Neiman Marcus Group, Ltd. LLC and 23 affiliated debtors filed
Chapter 11 bankruptcy in the
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several of the department store chains it owned in 1987. As of 2024, it owns the full-line
188:
8:
1495:
1331:
380:
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940:"With Last Quarter Sales Up 30%, Neiman Marcus Is Prepared For Changing Economic Winds"
332:
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1075:"Saks Fifth Avenue parent HBC to acquire Neiman Marcus Group in $ 2.65 billion deal"
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of its stock. In
October 2013, the Neiman Marcus Group was sold for $ 6 billion to
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485:. The Neiman Marcus Group stores will also become sister brands to the off-price
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32:
This article is about the holding company. For the department store chain, see
861:"Exclusive: Neiman Marcus to File for Bankruptcy as Soon as This Week-Sources"
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1049:"Parent company of Saks Fifth Avenue to buy Neiman Marcus for $ 2.65 billion"
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363:(acquired by CHH in 1972), and Contempo Casuals (acquired by CHH in 1979).
300:
46:
1558:
1393:
913:"Luxury fashion platform Mytheresa valued at $ 2.2 billion in U.S. IPO"
478:
237:
202:
821:"Neiman Marcus names Geoffroy van Raemdonck CEO, replacing Karen Katz"
1603:
1593:
1583:
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1361:
888:"The Death of the Department Store: 'Very Few Are Likely to Survive'"
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store Neiman Marcus Last Call; and home furnishings website
Horchow.
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1419:
977:"Neiman Marcus, the Retailer to the Rich, Stumbles Into Bankruptcy"
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418:, an online resale platform for handbags, jewelry and accessories.
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United States
District Court for the Southern District of Texas
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In 2018 Geoffroy van
Raemdonck replaced Karen Katz as CEO.
1525:
798:"Neiman Marcus files for initial public offering of stock"
414:
In April 2019, Neiman Marcus acquired a minority stake in
371:
On May 2, 2005, Neiman Marcus Group was the subject of a
886:
Maheshwari, Sapna; Friedman, Vanessa (April 21, 2020).
429:
pre-pandemic levels, from the mid-40s to the high-30s.
1794:
Companies that filed for
Chapter 11 bankruptcy in 2020
743:
122:
Saks Global divison of Hudson's Bay Company (pending)
60:
Neiman Marcus Group headquarters, located within the
1261:
1007:"Out of bankruptcy, Neiman Marcus plans a comeback"
1005:
885:
396:reported Neiman Marcus Group was preparing for an
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1718:Category: Department stores of the United States
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502:List of nameplates owned by Neiman Marcus Group
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458:Pending acquisition by Hudson's Bay Company
292:. It was established after holding company
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493:department stores through this ownership.
355:(acquired by Carter Hawley Hale in 1969),
54:
45:
29:American department store holding company
957:Danziger, Pamela N. (December 2, 2021).
956:
937:
1774:Privately held companies based in Texas
1744:Clothing retailers of the United States
1072:
997:
708:
14:
1764:Department stores of the United States
1754:American companies established in 1987
1731:
1526:Department stores in the United States
1004:Chitrakorn, Kati (21 September 2020).
818:
1499:
1235:
1137:
1024:from the original on 30 November 2022
1759:Retail companies established in 1987
729:"Neiman Marcus Inches Closer to IPO"
406:Canada Pension Plan Investment Board
331:Neiman Marcus Group was formed by a
1047:D'Innocenzio, Anne (July 4, 2024).
833:
444:Davidson Kempner Capital Management
24:
1784:Private equity portfolio companies
938:Danziger, Pamela (June 14, 2022).
819:Hirsch, Lauren (January 5, 2018).
750:Moin, David (September 19, 2013).
432:
25:
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796:Halkias, Maria (August 4, 2015).
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773:Moin, David (October 25, 2013).
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1779:CPP Investment Board companies
1367:Union Square Hospitality Group
1073:Harring, Alex (July 4, 2024).
812:
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727:Moin, David (August 7, 2013).
715:Neiman Marcus in $ 5.1B buyout
694:"The Neiman Marcus Group, Inc"
686:
664:
644:
367:Operations in the 21st century
327:Operations in the 20th century
13:
1:
1789:2013 mergers and acquisitions
1102:. Business Wire. July 4, 2024
657:
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452:Pacific Investment Management
375:(LBO), selling itself to two
1739:1987 establishments in Texas
1263:Leonard Green & Partners
1035:company's seven board seats.
752:"Neiman Marcus Profits Rise"
174:Geoffroy van Raemdonck (CEO)
7:
775:"Neiman's Deal Nearly Done"
95:; 37 years ago
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1749:Companies based in Dallas
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1707:United States portal
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621:Neiman Marcus Last Call
982:The Wall Street Journal
489:and Canadian full-line
398:initial public offering
258:Neiman Marcus Last Call
111:Pending acquisition by
1221:Neiman Marcus Building
1200:Abraham Lincoln Neiman
717:CNN Money, May 2, 2005
335:by its parent company
62:Neiman Marcus Building
674:. Neiman Marcus Group
477:, Rhône Capital, and
448:Sixth Street Partners
1695:Companies portal
1645:Associated Dry Goods
1205:Carrie Marcus Neiman
467:Hudson's Bay Company
113:Hudson's Bay Company
1410:BJ's Wholesale Club
1332:The Container Store
503:
381:Texas Pacific Group
282:Neiman Marcus Group
232:billion (2018)
214:million (2018)
196:billion (2018)
150:Number of locations
41:
40:Neiman Marcus Group
1460:Whole Foods Market
919:. January 21, 2021
892:The New York Times
865:The New York Times
696:. Encyclopedia.com
501:
393:Women's Wear Daily
337:Carter Hawley Hale
294:Carter Hawley Hale
39:
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1660:Georg Jensen Inc.
1614:Saks Fifth Avenue
1609:Reynolds Brothers
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1430:Leslie's Poolmart
1375:
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1347:Life Time Fitness
1284:Lucky Brand Jeans
1277:Consumer products
1229:
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672:"Store Footprint"
635:
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598:Spun-off for IPO
548:Contempo Casuals
483:Saks Fifth Avenue
290:department stores
279:
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271:neimanmarcusgroup
16:(Redirected from
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1549:Bergdorf Goodman
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1481:Sports Authority
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867:. April 19, 2020
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531:Bergdorf Goodman
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475:Insight Partners
390:In August 2013,
373:leveraged buyout
361:Bergdorf Goodman
345:Harcourt General
305:Bergdorf Goodman
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421:In July 2021,
385:Warburg Pincus
377:private equity
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341:General Cinema
339:in June 1987.
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1342:Jo-Ann Stores
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1165:Neiman Marcus
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985:. May 7, 2020
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758:September 19,
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160:Area served
1733:Categories
1655:Century 21
1394:IMS Health
1387:Healthcare
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804:August 12,
658:References
497:Nameplates
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