Just saw on neiman marcus s—s on Facebook that Now a major bank has spilled the beans on our struggling employer.. It seems they borrowed 170 million more just to stay solvent. It certainly doesn't seem to be spent at my behind the times division... #JustNuts... they are definitely headed Barneys direction at this rate... I bet anything if not store closures more layoffs after Christmas..https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.wsj.com/articles/neiman-marcus-borrowed-to-cover-summer-cash-burn-11573590403&ved=2ahUKEwjP_8bHz-XlAhUETd8KHTubADcQxfQBMAF6BAgJEAc&usg=AOvVaw1l3jnfclik9GVNjAFdDn-W&cshid=1573594361993
4 replies (most recent on top)
Very scary how private equity firms can buy a good business brand... pile on a lot of debt on to the balance sheet just to pay themselves... and then fire good people and closed doors!! It's been going on for decades and it's the strip mining of America!!!
The store at Wisconsin Avenue will probably be gone....#chevyChase #DCArea. ..
They still have a lot of vps and directors that don't do anything.
I bet at least 30 million wasted opening Hudson Yards... New York isnt cheap