DALLAS (1080 KRLD) - This might well be the week Neiman-Marcus files for bankruptcy.
As reported by Reuters, the Dallas-based luxury retailer has fallen on hard times, and it's only gotten worse during the Coronavirus outbreak which has forced Neiman-Marcus to temporarily close all its stores and to furlough most of its employees.
Reuters reports the company is close to securing a loan worth hundreds of millions of dollars to keep some of its operations afloat during bankruptcy proceedings.
The company's monthly debt service is in the millions-of-dollars and it reportedly missed a payment last week.