Neiman Marcus Debt Talks by the NumbersA regulatory filing revealed a delicate debt dance with lenders.

[Collection]When Geoffroy van Raemdonck, chief executive officer of the Neiman Marcus Group, took the stage at the WWD CEO Summit in October, he started with the heart. Van Raemdonck talked about the increasingly “transactional” nature of the world, the need to recapture the hearts and minds of consumers — the “economics of love.” But his plans to remake the luxury retailer and transform it for the digital age are dependent on a much more traditional kind of economics, which rely on dollars, cents and the ability to corral a diverse group of creditors behind a shared promise of bigger returns in the future. WWD reported in September on the ebb and flow of talks with its creditors and its efforts to extend to push back its due date to gain some extra breathing room. But the company was forced to put a fine point on the issues surrounding its refinancing in a filing with the Securities and Exchange Commission last week. The filing of the document indicated that one stage of negotiations had ended, but more talks might well be in the offing. In short, Neiman Marcus is in a tough spot, paying off debt built up in two successive private equity buyouts, but it

Follow WWD on Twitter or become a fan on Facebook.

Read More...https://wwd.com/business-news/financial/neiman-marcus-debt-talks-by-the-numbers-geoffroy-van-raemdonck-1202922018/

No comments:

Post a Comment