Retail

Neiman Marcus’ Luxury Dreams Were Shaken by Debt and Disease

Retailer expects to use bankruptcy to cut $4 billion from what it owes

The Neiman Marcus store at Hudson Yards in New York City. — The Neiman Marcus store at Hudson Yards in New York City.
Photographer: John Taggart/Bloomberg

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By Kim Bhasin and Jordyn Holman

May 7, 2020 at 9:30 PM UTC

Neiman Marcus was once famed for the fantasy gifts in its Christmas Book catalog — a $100,000 chicken coop inspired by Versailles, custom guitars designed by Texas music legends and his and hers Rolls-Royces.

But its luxurious selections and attentive customer service weren’t able to overcome its massive debt and the coronavirus shutdowns.