FinancialsMar 20, 2026
Macy’s Turnaround Plans Shows Promise, Boosted by Bloomingdale’sPlus, why Saks Global’s bankruptcy may have given Bloomingdale’s an edge.
MajorsMar 26, 2019
Neiman Marcus Creditors Extend Payment Deadline
The luxury retailer is sitting on nearly $5 billion worth of debt.
Neiman Marcus recently opened a 188,000-square-foot store at Hudson Yards, New York City’s new upscale shopping center.
Dallas—Neiman Marcus Group Inc.’s creditors are throwing the retailer a life line, giving the company a few more years to pay off its mounting debts.
The luxury retailer is saddled with $4.46 billion in debt as of its latest quarterly results.
More than 55 percent of its lenders and more than 60 percent of its unsecured noteholders have agreed to extend maturities on the company’s debt, Neiman Marcus announced in a statement Monday.
At least 95 percent of both its lenders and noteholders would need to give approval, but the percentage can be lowered at the company’s discretion.
The retailer would have until 2023 to pay its term loans and until 2024 for the unsecured notes, the latter of which would be paid via a debt exchange, which the company expects to begin in April.
Neiman Marcus owes more than $2.5 billion to the creditors in agreement and said it will pay down $550 million of its debt to term loan lenders.
“This transaction provides substantial value to our lenders and creates ample runway to execute on and complete Neiman Marcus Group’s transformation plan into a luxury customer platform,” Neiman Marcus Group CEO Geoffroy van Raemdonck said.
“The commitments we have obtained for this transaction are a validation of our business and transformation strategy and our leadership team,” he added.
The term loan holders who agree to the arrangement will receive a higher interest rate than those who opt out.
The lenders and noteholders who choose not to participate will also be prevented from taking part “in a transaction on these terms at a future date,” the company said.
The statement also addressed ongoing legal issues related to the company’s 2014 acquisition of German luxury fashion e-commerce site myTheresa.
Its myTheresa segment raked in about $345 million in fiscal 2018, boasting a high level of customer loyalty.
A recent company presentation noted that 26 percent of its revenue stems from the top 3 percent of customers and touted its potential for international expansion.
The retailer transferred its myTheresa unit to a corporate entity held by its private equity owners in September 2018, according to an SEC filing.
Investment firm Marble Ridge pursued legal action, arguing that the transaction was a way to move the valuable assets out of the reach of creditors, but the case was dismissed by a Texas judge due to lack of “subject matter jurisdiction.”
The company said all claims related to the company’s transfer of myTheresa
will be resolved and non-participating parties will not be able to file claims going forward.
Neiman Marcus recently opened a 188,000-square-foot location at Hudson Yards, New York City’s new upscale shopping center, which features restaurants, a custom hat shop, an in-store shoe shiner, a pop-up florist, a stage for live performances and a slew of other offerings.
Neiman Marcus recently opened a 188,000-square-foot location at Hudson Yards, New York City’s new upscale shopping center, which features restaurants, a custom hat shop, an in-store shoe shiner, a pop-up florist, a stage for live performances and a slew of other offerings.
More on Majors
The Latest
AuctionsMar 20, 2026
Sotheby's, De Beers Unveil ‘Jwaneng 28.88’ DiamondThe flawless, Type IIa stone is estimated to achieve up to $2.8 million at the auction house’s high jewelry sale in April.
TrendsMar 20, 2026
‘Frankenstein’ Costume Designer Is Bejeweled In Brooches for Oscars WinCostume designer Kate Hawley wore three archival Tiffany & Co. brooches, our Pieces of the Week, while accepting her first Oscar.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
FinancialsMar 19, 2026
Signet Jewelers to Close 100 Stores, Shutter James Allen BannerThe jewelry retailer announced changes to its store network and brand portfolio during its fourth-quarter earnings call.
Weekly QuizMar 19, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysMar 19, 2026
NRF Forecasts 4% Retail Sales Growth in 2026From a weaker labor market to inflation, NRF Chief Economist Mark Mathews gave insight on what retailers can expect this year.
AuctionsMar 19, 2026
26-Carat Diamond Tops $1M at AuctionThe historic stone, which sold at Elmwood’s in London, is the largest white diamond to be offered on the U.K. market in more than a decade.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
Events & AwardsMar 19, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach in Las Vegas on May 31.
AuctionsMar 18, 2026
Collection of the ‘Severely Beautiful’ Lady Wardington Fetches $161KThe model and fashion editor’s gold evening bags were the top lots at the London sale, going for more than $25,000 each.
PodcastsMar 18, 2026
Episode 3: An Interview With Jewelry Designer Johnny NelsonFresh off winning the David Yurman Gem Awards Grant, Nelson discusses the ring that launched his career and his plans for the future.
SourcingMar 18, 2026
Lucara Recovers Nearly 37-Carat Blue DiamondThe “stunning” Type IIb stone was found via x-ray technology at its Karowe mine in Botswana.
Events & AwardsMar 17, 2026
The Best Moments From the 2026 Gem Awards Held just before the Oscars, the jewelry industry’s big awards show had its share of standout jewelry, gowns, and acceptance speeches.
SourcingMar 17, 2026
Cruzeiro Mine Debuts ‘Winter Tourmaline’The Brazilian mine’s new collection features cabochons in soft, muted shades like silver and lilac.
TrendsMar 17, 2026
Natalie Portman Is Tiffany & Co.’s New AmbassadorThe Academy Award-winning actress stars in Tiffany & Co.’s latest commercial, which debuted Sunday night during the Oscars.
EditorsMar 16, 2026
2026 Oscars Jewelry: One Necklace After AnotherNatalie Francisco rounds up the top Oscars jewels, including Rose Byrne’s Taffin necklace with a more than 20-carat yellow-brown diamond.
WatchesMar 16, 2026
TAG Heuer Has a New CEOBéatrice Goasglas has been with TAG Heuer since 2018. She is the first woman to head the 166-year-old, LVMH-owned watch brand.
IndependentsMar 16, 2026
Ben Bridge Debuts New Honolulu BoutiqueThe store features the first in-store build for the jeweler’s in-house “Bella Ponte” bridal brand.
AuctionsMar 16, 2026
Bonhams Paris To Offer Antique, Signed Jewels The live fine jewelry auction will take place later this week, showcasing antique pieces, rare gemstones, and signed jewels.
CollectionsMar 13, 2026
A Trio of Jewels from the 3 Gem Award Nominees for Jewelry DesignOur Pieces of the Week honor the 2026 nominees for the Gem Award for Jewelry Design, Silvia Furmanovich, Cece Fein-Hughes, and Catherine Sarr.
WatchesMar 13, 2026
Citizen, Vera Wang to Launch Watch CollectionThe 24-piece watch collection is set to debut in spring 2027.
SourcingMar 13, 2026
Andrea Pooler Joins Third-Generation Diamond Company as COO Pooler, who has more than 25 years’ experience in jewelry, is now chief operating officer of Modani Jewels, Soham Diamonds, and SNJ Creations.
MajorsMar 13, 2026
24 Karat Club of New York’s Banquet to Return to Waldorf AstoriaThe reopening of the Waldorf Astoria means a homecoming for the industry group’s annual event, which will take place Saturday.
CollectionsMar 12, 2026
Jessica McCormack Sends Gold, Gemstones Into ‘Orbit’McCormack looked to the 19th century’s “golden age” of astronomy when designing her new celestial-themed collection.
Events & AwardsMar 12, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on Friday.
TechnologyMar 12, 2026
Caratwise Launches, Names Former Signet Exec CEO The new smart design software allows jewelers to configure, price, and confirm a custom engagement ring in real time for in-store customers.
SourcingMar 12, 2026
Grandview Klein Opens New Factory in South Africa The 10,000-square-foot diamond manufacturing facility officially opened in late February and employs 50 people.
