Neiman Marcus Group is reportedly on the brink of filing for Chapter 11 bankruptcy protection.
The luxury retailer is in talks with its current lenders to raising approximately $600 million in emergency financing to fund its operations through the restructuring, reported CNBC, with a filing likely as soon as Sunday, April 26. Neiman's is not planning to close any of its 43 Neiman Marcus stores as part of the filing, the report said.
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