Business failure of US luxury department store "Niemann Marcus" New Corona 9:33 on May 8
A major US luxury department store, "Niemann Marcus," was forced to leave due to the spread of the new coronavirus infection, but it got stuck in cash, and the court applied the federal bankruptcy law, which corresponds to the Japanese Civil Rehabilitation Law, on the 7th. I applied for and failed in management.
Neiman Marcus filed for the application of Article 11 of the Federal Bankruptcy Code, which is the Civil Rehabilitation Law of Japan, to a court in Southern Texas on the 7th, and the business went bankrupt.
Founded over 100 years ago, Niemann Marcus has more than 40 stores nationwide, and its stores in Hawaii are well known to tourists from Japan.
The same group of luxury department stores in New York, "Bergdorf Goodman", is a department store symbolizing Fifth Avenue alongside "Sachs Fifth Avenue" in the immediate vicinity.
Annual sales are about JPY 500 billion in Japanese yen, and sales have been sluggish recently, but it seems that the company was forced to take a leave due to the spread of the new coronavirus infection, and it was thought that the cash flow was stuck.
Major stores such as New York will be closed until the end of this month, but the company is aiming to resume operations after obtaining new funds.
In the United States, "J. CREW", a major clothing sales company, collapsed on the 4th of this month, and the retail business with physical stores is seriously affected.