Dallas — Neiman Marcus Group LTD LLC has entered into a Restructuring Support Agreement (RSA) with a significant majority of its creditors to undergo a financial restructuring, substantially reducing its debt load and interest payments and supporting continued operations during the COVID-19 pandemic and beyond. To implement the RSA, the company has commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division. As part of the process, Neiman Marcus Group has secured debtor-in-possession (DIP) financing of $675 million from creditors to enable …
Geoffroy van Raemdonck
Dallas — Neiman Marcus Group has appointed Lana Todorovich to as president and chief merchandising officer. She will be responsible for driving the brand’s innovative merchandising offerings which are a key component of its strategic plan. Todorovich joins Neiman Marcus from Ralph Lauren. Todorovich, who will report to Neiman Marcus Group CEO Geoffroy van Raemdonck, is expected to be a key leader in Neiman Marcus Group’s transformation strategy, moving to a more customer-centric organization by creating a new and engaging luxury retail experience for the global customer. “Lana is a …