Neiman Marcus Starts Talks to Restructure Debt and Avert Bankruptcy

Luxury retailer has looming maturities on most of its $4.7 billion of debt

Soma Biswas

Updated Oct. 24, 2018 6:03 p.m. ET

Neiman Marcus Group Ltd., the Dallas-based luxury department-store chain, started talks in recent weeks with a group of creditors that could lead to a debt restructuring that will push out looming debt maturities and avert a bankruptcy filing, people familiar with the matter said.

The company began talks with a group of bondholders and lenders represented by the law firm Paul Weiss Rifkind Wharton & Garrison and financial advisers Houlihan Lokey that could lead to a restructuring of Neiman’s $4.7 billion in debt, according...