Neiman Marcus Could File for Bankruptcy this week, According Reports

Neiman Marcus may declare bankruptcy due to coronavirus crisis. Sources have revealed that many stores of American retailer Neiman Marcus have been closed since last month due to coronavirus, due to which their financial condition has deteriorated.

Reuters has said that in view of this situation, Neiman Marcus can declare bankruptcy only this week.

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Dallas-based retailer 43 Neiman Marcus stores have been closed since the month of March due to the outbreak of COVID-19.

Neiman Marcus stores used to employ about 14000 people till the last month, for which the general needs a lot of cash for his salary and other expenses.

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They require a lot of funds till the lockdown open and the market returns to normal.

Neiman Marcus has taken a $ 5 billion loan and needs cash in millions every month.