Luxury retailer Neiman Marcus files for bankruptcy over ‘unprecedented disruption’ caused by coronavirus

Luxury retailer Neiman Marcus filed for bankruptcy on Thursday, becoming the first major department store chain to seek Chapter 11 protection because of the coronavirus pandemic. The 112-year-old company, which was already in trouble before the COVID-19 crisis, said it secured $675 million in financing from its creditors to continue doing business throughout the restructuring proceedings.