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Investor Group to Challenge Neiman Marcus Bankruptcy Loan: Rtrs

April 27, 2020, 2:26 AM

A group of investors consisting of Mudrick Capital Management and Third Point plan to challenge a $600 million financing package that Neiman Marcus Group is trying to secure for its upcoming bankruptcy, Reuters reported, citing people familiar with the matter.

  • Neiman Marcus declined to comment to Reuters
  • Mudrick submitted $700m proposal for debtor-in-possession financing, the people told Reuters; Third Point and Fir Tree Partners also likely to be part of group proposing financing
    • Condition of the Mudrick-proposed loan is that Neiman Marcus must seek an ouright sale while under bankruptcy protection
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