Hints and tips:
...Wells Fargo has agreed to buy Neiman Marcus’s vacant space at 20 Hudson Yards for $550mn in a deal that confirms the changing fortunes of one of New York City’s largest property developments....
...Bricks and mortar chains including JCPenney, Neiman Marcus, J Crew, Brooks Brothers and Canada-based Aldo filed for bankruptcy protection last year, but several later exited or were bought out of Chapter...
...A prominent US hedge fund manager has been sentenced by a New York federal judge to six months imprisonment for his misconduct during the 2020 bankruptcy of luxury retailer Neiman Marcus....
...Neiman Marcus....
...Yet the two investment groups had put in less than $1.5bn combined of the Neiman Marcus purchase price and by 2017, the retailer was struggling under the weight of nearly $5bn of buyout debt with sales and...
...Marble Ridge, the hedge fund at the centre of the Neiman Marcus bankruptcy, has told investors it is shutting down, a day after a court-ordered report castigated its managing partner Daniel Kamensky for...
...The hedge fund manager at the centre of the Neiman Marcus bankruptcy admitted making one of the worst mistakes of his life as a Department of Justice trustee report accused him of severe misconduct and threw...
...The New York hedge fund manager has been accused of a breach of his duty to fellow Neiman Marcus creditors, after trying to persuade a rival investor not to bid for preferred shares issued by a unit of the...
...Neiman Marcus: how Marble Ridge fell out of fashion “You come at the king, you best not miss.”...
...Drop us a line and join the conversation: Due.Diligence@FT.com His Theresa: a hedge fund manager’s stunning slip-up at Neiman Marcus Pity the man charged with picking through the wreckage of Neiman Marcus...
...Mr Jones asked Mr Beilinson to summarise his progress and explain the issues he was investigating. “What he gave me was a line of bull,” the judge said afterwards. Neiman Marcus declined to comment....
...MyTheresa was owned by Neiman Marcus Group Ltd LLC until, almost two years ago, the online retailer was transferred up to a parent company, The Neiman Marcus Group Inc....
...Dan Kamensky, who messaged an unnamed Jefferies executive “DO NOT SEND IN A BID” while both groups were competing to buy out securities issued by the bankrupt retailer Neiman Marcus, closed his hedge fund...
...Fashion group J Crew and department store chain Neiman Marcus are among the other chains that have also sought bankruptcy protection during the pandemic....
...Look at J Crew and Neiman Marcus, which have filed for bankruptcy....
...J Crew, Travelport, Siris Capital Group, Elliott Management, WEX, GSO, Mudrick Capital, Bank of America and Neiman Marcus all declined to comment. joe.rennison@ft.com...
...Walmart and big-box rival Target have reported their biggest sales increases in several years while weakly positioned clothing chains and department stores including JCPenney, J Crew and Neiman Marcus have...
...The jumpers, scarves, gloves and dog coats proved equally popular in New York as in London with “big orders coming in from places like Neiman Marcus and Saks of Fifth Avenue”....
...Neiman Marcus, a fixture of upmarket US malls, went into Chapter 11 bankruptcy in May, along with JCPenney, emerging in September. “It feels as though the idea of the anchor tenant is an anachronism....
...It has become an almost daily occurrence to hear of a department store filing for bankruptcy or close to it: Neiman Marcus, Lord & Taylor and many others teetering on the edge....
...Similar fights between private equity firms and hedge fund creditors have played out at companies such as J Crew and Neiman Marcus....
...In common with Neiman Marcus, J Crew and other retailers that have been unable to weather the pandemic, JCPenney had been saddled with high debts....
...These vehicles were all the rage in the early aughts — Warburg Pincus and TPG bought the US department store chain Neiman Marcus in 2005 financed with PIK debt (what a story that would become), the same...
...Century 21: waving goodbye to a New York institution Neiman Marcus’s recent bankruptcy saga ended in fraud charges against the hedge fund manager at the centre of its restructuring....
...A wave of retail bankruptcies — including of some of Simon’s most important mall anchors and tenants, such as the department store chains JCPenney and Neiman Marcus — is adding to the pressure....
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