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Neiman Marcus Creditors May Benefit as Store Explores MyTheresa Options

  • Luxury retailer is evaluating strategic alternatives for unit
  • MyTheresa has been at center of ongoing feud with bondholders
A contractor enters a Neiman Marcus Group Ltd. store at the Hudson Yards development in New York.

A contractor enters a Neiman Marcus Group Ltd. store at the Hudson Yards development in New York.

Photographer: Demetrius Freeman/Bloomberg
Updated on

Neiman Marcus Group Inc.’s decision to explore strategic alternatives for its online MyTheresa business may prove a boon for bondholders as the company works to clean up its debt-plagued balance sheet.

Neiman said on Tuesday that its parent company was evaluating options for MyTheresa, which has been at the center of a dispute with creditors since the unit was effectively transferred out of the reach of bondholders in September. Neiman has not made a decision on a specific transaction or time frame with regard to MyTheresa, the company said in a filing.