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Macy’s Explores Rescue Financing Deal to Shore Up Liquidity
- New note would be secured by the retailer’s property
- Department store faces temporary closures amid pandemic
A pedestrian walks near a closed Macy's Inc. store in Arlington, Virginia, U.S., on March 31.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Macy’s Inc. is exploring ways to use its real estate to secure fresh cash and ride out the coronavirus pandemic.
The department store would issue new bonds backed by certain property and other assets to bolster its liquidity, according to people with knowledge of the situation. The Herald Square property wouldn’t be included.