It's been a bad couple of months for Neiman Marcus.

The luxury department store reported plummeting sales and a bigger loss than analysts expected. It then scrapped plans for an initial public offering. Meanwhile, it has a higher amount of debt relative to earnings than its competitors, has a low credit rating and relatively little real estate to sell in a pinch.

So it's not surprising that the company's bonds have been losing value.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Cash Management
Corporate Finance
Kicker
News