Neiman Marcus Wins Final Court Approval on $675M Bankruptcy Loan

June 16, 2020, 5:09 PM

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

  • U.S. Bankruptcy Judge David Jones grants final approval for the retailer to access the debtor-in-possession loan despite ongoing risks from the pandemic and initial 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 in March
  • All objections have been resolved, including with ...

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