PodcastsMay 20, 2026
Episode 5: Sotheby’s Frank Everett Puts the Auction Market in PerspectiveEverett covers colored stones’ surging popularity, the mellow return of the “Mellon Blue,” and his “The Devil Wears Prada” doppelgänger.
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
Editors' Picks
Sponsored by
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
CrimeMay 20, 2026
NYPD Warns of Jewelry Swap Scams Targeting SeniorsThe NYPD is warning elderly New Yorkers to keep their jewelry hidden when walking outside to avoid being a target.
IndependentsMay 20, 2026
Adornment & Theory’s New Store Feels Like Home Designer Viviana Langhoff has realized her dream of owning a space for her Chicago jewelry store that looks and feels like her brand.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
Events & AwardsMay 20, 2026
Here Is Couture’s 2026 Education Lineup The sessions will run from Friday, May 29, to Sunday, May 31, with one being a live taping of an episode of Couture’s podcast.
Weekly QuizMay 14, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Lab-GrownMay 20, 2026
Savannah Friedkin Jewelry Names New CEOFormer Stephanie Gottlieb Fine Jewelry executive Morgan P. Richardson is joining the lab-grown diamond jewelry brand.
WatchesMay 19, 2026
Here’s the AP x Swatch Pocket Watch That Caused PandemoniumThe $400 pocket watch is a blend of Audemars Piguet’s iconic eight-sided Royal Oak and Swatch’s unserious Pop watches from the ‘80s.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
CollectionsMay 19, 2026
Chris Ploof’s New Collection Makes an Ancient Medal ModernWith gold prices on the rise, the “Modern Electrum” collection uses an alternative, non-tarnishing metal alloy composed of gold and silver.
IndependentsMay 19, 2026
Ellen and Michael Fruchtman Retire, Sell Marketing Agency Fruchtman Marketing has new owners, Erin Moyer-Carballea and Manuel Carballea, and will relocate to Miami.
ColumnistsMay 19, 2026
Peter Smith: The (Mostly) Immutable Sales TruthsIn a column for the 2026 State of the Majors issue, Smith lists 10 time-tested principles about sales that still ring true.
ColumnistsMay 18, 2026
Edahn Golan: What a K-Shaped Economy Means for Fine JewelryIn a column for the 2026 State of the Majors issue, Golan spells out how the growing economic divide in the U.S. is reshaping the market.
CollectionsMay 18, 2026
Foundrae’s New Collection Taps Into JoyThe “Limitless Expansion of Joy and Hope” collection evokes summer through colored gemstones and motifs of butterflies and florals.
CollectionsMay 18, 2026
Hancocks London Acquires Historic ‘Inchiquin’ EmeraldThe jewel, circa 1890, is from the late Victorian era and was owned by descendants of the last high king of Ireland.
Events & AwardsMay 18, 2026
Here Are the 2026 JCK Industry Fund Grant Recipients This is what the nine recipients plan to do with the funds.
AuctionsMay 15, 2026
American Collector Ponies Up Almost $17K for John Wayne’s RingThe Western star’s 14-karat gold signet ring sold for six times its low estimate following a bidding war at U.K. auction house Elmwood’s.
Events & AwardsMay 15, 2026
JA, MJSA To Sponsor Roundtable at TJSThe discussion, "Rebuilding the Jewelry Workforce," will take place on Saturday, May 16, in Troy, Michigan.
SourcingMay 15, 2026
State of Diamonds: The Way Forward for Natural DiamondsThe jewelry industry is reassessing its positioning as Gen Z reshapes the retail landscape and lab grown continues to gain market share.
AuctionsMay 14, 2026
White Diamonds Lead Sotheby’s Auction, Blue Diamond Does Not SellA matching pair of 18.38-carat, D-color diamonds from Botswana’s Jwaneng mine sold for $3.3 million, the top lot of the jewelry auction.
Supplier BulletinMay 14, 2026
A Diamond Is Forever Continues Desert Diamonds – Bridal ReinvigoratedSponsored by A Diamond Is Forever
SourcingMay 14, 2026
State of Colored Stones: The Spirit of Young American Gemstone CuttersThe next generation of lapidarists are entrepreneurial, engaged online, and see the craft as a means for artistic expression.
AuctionsMay 14, 2026
‘Ocean Dream’ Makes Waves at Christie’s, Fetching $17MIt was the second auction appearance for the fancy vivid blue-green diamond, which sold for $7.8 million at Christie’s Geneva 12 years ago.
CrimeMay 14, 2026
Second Man Arrested in Florida Pawn Shop Shooting Members of the U.S. Marshals Task Force took a 22-year-old man into custody. He was charged with tampering with evidence.
CrimeMay 13, 2026
JSA’s 2025 Crime Report Shows ‘Concerning’ Rise in ViolenceWhile the overall number of crimes was down, there were more incidences in which robbers pulled out guns, mace, or rammed cars into stores.
IndependentsMay 13, 2026
New Orleans Jeweler Closing Canal Place StoreJack Sutton Fine Jewelry is closing its store inside the downtown shopping center after 40 years in business.
SourcingMay 13, 2026
Smithsonian Acquires ‘Winston Red’ Diamond PaintingReena Ahluwalia’s painting of the rare red diamond is the first contemporary painting to join the National Gem Collection.
TrendsMay 13, 2026
State of Design: Only the Innovative Will SurviveThe price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.
