The high fashion retailer Neiman Marcus is headed towards filing for bankruptcy protection. Just like many other companies, Neiman Marcus was forced to close its stores due to the stay at home order.
It has been reported that currently has an estimated $5 billion in debt. It may just be a matter of days before the retailer actual files for bankruptcy.
The company has furloughed must of its 14,000 employees so they will be able to apply for unemployment benefits.