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3Novices:US retailer Neiman Marcus abandons hope for a sale as huge debt scuppers chance of a deal

US department store operator Neiman Marcus said on Tuesday it had ended talks regarding a partial or full sale of the company, three months after embarking on a review of strategic alternatives under the weight of a US$4.8 billion debt load.
The company’s debt pile made any acquisition very hard to structure. Talks between Neiman Marcus and its suitor Hudson’s Bay Co, the owner of high-end department store Saks Fifth Avenue, had made little progress because of this issue.
Neiman…
June 14, 2017 at 12:41AM http://ift.tt/2rnQoG3
#3Novices #News #OnlineMedia #China 3Novices China

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