I heard from a very good source at NM that along with its last call stores, they are planning on shuttering all the full price locations except Beverly Hills, Bal Barbour, New York City, Dallas Downtown and Las Vegas....by 2021...
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That’s hilarious. Now each store only had to pull a profit of a BILLION DOLLARS EACH and they’ll be at ZERO! 😆😆😆😆😆😆😆
Bye Bye Needless Markups! Don’t let the door hit you in the a–! 😉
That’s hilarious. Now each store only had to pull a profit of a BILLION DOLLARS EACH and they’ll be at ZERO! 😆😆😆😆😆😆😆
Bye Bye Needless Markups! Don’t let the door hit you in the a–! 😉
Saks wont buy neimans...they could cherry pick parts..Their financial position isnt super strong.. They just downsized... Do not believe that old narrative...Womens wear daily may tout it ..its a press favor.. I wrote my blog on them and am.beyond certain..
That post about not understanding bankruptcy must be written by an executive, Barneys filed a few months ago and they are shut down like a liquor store in Compton during the race riots.
Stores will probably close as a result of bankruptcy. Some malls are undergoing construction and those stores who do not participate in refreshing there stores will have to close. So if the company has no money many stores will close. Bankruptcy is going to happen and Saks should buy Neimans and then maybe there will be a super Luxury retailer. Until then many people will be either waiting to come back to jobs or not have a job at all
To Anonymous of Post ID: @1ydg+14oD6at7
You must have zero reading comprehension and most definitely zero understanding of a bankruptcy proceeding. Companies file for bankruptcy protection to restructure, shed debt with the sole intention to emerge as a profitable company for future business. Some companies do make it through and emerge stronger after a bankruptcy. Some don't despite being helped through the process. What could happen to NM after a bankruptcy is anyone's guess. The odds are against them due to heavy competition.
Dont think this is correct..houston galleria a top 5 too.... Sorry..not buying it..plus north park wouldnt go... San fran store a top 10 as well.. Michigan Avenue too
Neiman Marcus profitable??? LOL. Billons and Billions of debt and overpriced clothing with nobody shopping in the stores, are you friggin kidding me? Neiman Marcus is circling the drain. Whoever responded to that post is either an executive or a r—d.
They will close a few stores, but not many. The store list provided by the OP proves they don’t know what they are talking about.
NM will try to undergo a bankruptcy first before next steps on the full line stores. They will be forced to close stores as part of the bankruptcy process to try to emerge as a more profitable company. The question is how long can they survive after they file bankruptcy?
You need better sources. Most locations are profitable and in A malls/locations. The unsustainable debt was brought on more by PE than bad business practices. They could close 5-10 stores max in my opinion.
Don’t believe they will close the Northpark store in Dallas
I’m guessing by early 2021
If true, do we know when this will be announced?