Neiman Markus bankruptcy so soon?

[Mach50]

Originally Posted by himain

Not sure you're getting your info but everytime I go to Cherry Creek mall it's busy.

Not a lot of data or stats on this, but many articles and just based on my own personal experience going there (my opinion there are far less people now vs 2015).

https://www.westword.com/arts/paid-p...k-mall-8696915

https://www.westword.com/news/angry-...hange-11610284

[Mach50]

Originally Posted by davebarnes

Today

https://www.nytimes.com/2020/05/07/b...ankruptcy.html

Neiman Marcus, a Symbol of Luxury, Files for Bankruptcy
The high-end retailer is not liquidating, and expects to emerge from restructuring later this year.

Welp now the question is will they close the Denver store?

There aren't a lot of high fashion designer alternatives in Denver. But I don't really need NM or a Bloomingdales in my life haha.

[BarryK123]

Originally Posted by davebarnes

Today

https://www.nytimes.com/2020/05/07/b...ankruptcy.html

Neiman Marcus, a Symbol of Luxury, Files for Bankruptcy
The high-end retailer is not liquidating, and expects to emerge from restructuring later this year.

Will the restructured store be called Neiman Markus?

[KerrTown]

Originally Posted by daprara

Neiman Markus will declare bankruptcy

Will need to buy the super high end gucci & vuitton else where.

see how this plays out; if any denver store fronts will close? Maybe the Cherry Creak store?
Seems most Neiman Markus shoppers are older++. Clothing and house ware are increasingly casual these days. Even tho sales tax laws have changed on a national scale to force on line sales to charge tax just too little to late. As a national retailer; Neiman Markus has accumulated huge billion dollar debt for what ever reason. Prior to the virus seems there were days where the Cherry Creak store had zero sales.


if the cherry creek store closes the mall could become a full time parking lot. The mall has the technology already in place.

Gucci, Louis Vuitton, and other brands in general have opened their own stand-alone stores in malls and taken most of the purchases away from the department stores. In this way, they can keep more of the profits and have more control with the display and selection available in a location.

Even at wholesale buying those luxury goods to sell are still expensive, especially if your clientele is dying or shifting to the mall proper.

Originally Posted by daprara

the more affluent shoppers especially tend to use the interWeb.

I'd like the assurance that no one who touched the item within the last 24-48 hours was not sick. You never know if the packer sneezed inside your box or the delivery man sneezed on his hands as he grabbed the package to make a no-contact doorstep delivery. (There are cameras inside a store, however.)

Originally Posted by Mach50

There aren't a lot of high fashion designer alternatives in Denver. But I don't really need NM or a Bloomingdales in my life haha.

The Houston NM store was their first location outside of their hometown of Dallas and is a time warp to 1969, even to the plumbing fixtures in the bathrooms. It's definitely showing its age. Meanwhile on the other side of The Galleria, Saks' newest store in the chain attracts shoppers.

I prefer Bloomingdales' style more, but it's a lower price point than NM or Saks (Nordstrom is on the same level as Bloomies). The novelty is that locations are rare and mostly on the coasts.

Macy's will be the lone survivor in the department store space as it has the critical mass and the capital to weather the storm. It's upscale but not too expensive. They can easily pivot to power centers, like Kohl's, if necessary.

[daprara]

i cant remember if the broomfiled flatIrons mall has a Neimand Markkus??
if it exists, this would be a targeted to close more than cherryCreek.

just the other day Penneys has announced bankrupcy, dont see a formal Neimand Markus anouncement yet

[Mach50]

Originally Posted by daprara

i cant remember if the broomfiled flatIrons mall has a Neimand Markkus??
if it exists, this would be a targeted to close more than cherryCreek.

just the other day Penneys has announced bankrupcy, dont see a formal Neimand Markus anouncement yet

Neiman Marcus filed BK over a week ago -

https://www.nytimes.com/2020/05/07/b...ankruptcy.html

[EastwardBound]

What they need is a big bailout! Nothing like living bailout to bailout! /s