A Texas oil boom turned a single Neiman Marcus department store in downtown Dallas into one of America’s biggest luxury retailers. A century later, the new coronavirus tipped the heavily indebted company into a bankruptcy court. Neiman Marcus Group Inc. filed Thursday for chapter 11 bankruptcy protection in Texas, becoming the latest large retailer to seek a court restructuring during the pandemic that has closed much of the U.S. economy. J.Crew Group Inc. filed for bankruptcy earlier this week, and on Thursday Canadian shoe...

Source: Wall Street Journal May 07, 2020 14:03 UTC