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Neiman Marcus Bankruptcy a Black Eye for One of Luxury’s Leaders

Rivet’s 2021 winter issue has dropped! This in-depth issue examines the steps the global denim industry is taking to minimize its impact on the environment, from implementing zero waste production and design processes to establishing greenhouse gas emissions goals aligned with the Paris Agreement.

After weeks of speculation, one of luxury’s leaders has been stung by a bankruptcy filing brought on in part by a coronavirus-induced unraveling. The Neiman Marcus Group has forged a restructuring agreement with the bulk of its creditors, and will implement the plan through a Chapter 11 filing bankruptcy on Thursday. The upscale department store…

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