What will Neiman Marcus do?

Rumours have been flying about interested parties in Neiman Marcus stores of Dallas, Texas. The latest and most persistent has been Hudson's Bay. However, they are said to be still too far apart on price. Ares Management and the Canada Pension Plan Investment Board bought the company in 2013 for $6 billion but are struggling to carry its $4.7 bn debt load. They originally planned an IPO but abandoned the idea in January. There would now appear to be some interest by Majid Al-Futtaim of Dubai. The deal with HBC was made more complicated by the move in March to shift Mytheresa online business in Germany and three stores into "unrestricted subsidiaries". Real estate firm Related Cos. Is trying to find some clarity also since it has signed up Neiman Marcus as an anchor for its Hudson Yards Mall on Manhattan's West Side.
