6,300 Stores Close As Consumers’ Buying Priorities Change

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20 stores of Neiman Marcus

Retail & Leisure International

After filing bankruptcy in May, the luxury department store Neiman Marcus plans on permanently closing five locations and most of its 22 off-price Last Call stores. The company said that “select Last Call stores will remain open to serve as a selling channel for Neiman Marcus residual inventory.” After filing for bankruptcy, Neiman Marcus is restructuring the company to continue operations and gradually reopen some locations. The company was able to secure a $675 million in debtor-in-possession financing to invest in their fall inventory and the improvisation and expansion of their online platforms.