According to an article from Reuters, Neiman Marcus is preparing for bankruptcy this week. This will make it the first Major US department store operator to fall from the economic crisis caused by the Coronavirus outbreak.
Being faced with few options do to nation wide shutdown the Dallas Based company was forced to close the two Bergdorf Goodman stores in New York, over 2 dozen of its Last Call stores and its 43 Neiman Marcus stores. With roughly, 14,000 employees furloughed. Credit rating firm Standard & Poors totals the company’s debit at roughly $4.8 Billion.