Neiman Marcus emerges from Chapter 11 bankruptcy

Dallas-based Neiman Marcus emerged from the Chapter 11 bankruptcy process, the luxury retailer announced Sept. 25.

Neiman Marcus’ announcement comes a couple of weeks after it released its plan to exit Chapter 11. The company is eliminating more than $4 billion of existing debt and more than $200 million of interest expenses with no near-term maturities.

“While the unprecedented business disruption caused by Covid-19 has presented many challenges, it has also given us the opportunity to reimagine…