Luxury department store chain Neiman Marcus is filing for Chapter 11 bankruptcy, citing the “unprecedented disruption” of business during the pandemic.
The company shut down all 67 of its stores in mid-March and later furloughed nearly all of its 14,000 employees. Stores will remain closed until at least May 31st.
It’s the second major retailer to file for bankruptcy this week, following J. Crew’s announcement on Monday.
