Neiman Marcus Can Tap $675 Million Bankruptcy Loan Despite Risks

Neiman Marcus Group Inc. gets access to a $675 million bankruptcy loan that will keep the luxury retailer operating as most stores across the country remain shut to curb the spread of the coronavirus.

• At debtor’s first bankruptcy hearing, Judge David Jones grants interim approval for the retailer to access the debtor-in-possession loan despite ongoing risks from the pandemic and opposition from creditors including Mudrick Capital Management and Marble Ridge Capital
  • DIP loan provided by creditors including Pimco, Davidson Kempner, and Sixth Street Partners, comes after negotiations that began around March 25, Tyler Cowan of Lazard, Neiman’s...