According to multiple reports, including TMZ, Nieman Marcus is set to file for bankruptcy. It could happen as soon as this week.
The chain has 43 stores across the country, all of which closed when the Stay At Home orders began. On top of that, almost all 14,000 employees have been furloughed.
TMZ says that the Neimans is billions of dollars in debt and their monthly bill is millions of dollars. So, without profits it’s pretty much impossible to pay the debt.
Apparently 24 Hour Fitness is also considering filing. This is probably just the beginning.
