Neiman Marcus bondholder says company may be in default: Reuters
Distressed investor Marble Ridge Capital LP said in a letter to Neiman Marcus Group Ltd LLC that the U.S. luxury department store company may be in default on its debt after it moved its Mytheresa business into an entity belonging to the retailer’s private equity owners, Reuters reported. Buyout firm Ares Management LP and Canada Pension Plan Investment Board (CPPIB) acquired Neiman Marcus for US$6 billion in 2013, saddling the retailer with about US$4.7 billion in debt. Neiman Marcus said this week it moved the Mytheresa online business to an entity owned by Ares and CPPIB.
21 September 2018•2 mins read
