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Neiman Marcus files for bankruptcy

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Regular Contributor

Neiman Marcus files for bankruptcy

This has me alarmed.  My Neiman's and Bergdorf's 25K SL's padded my utility nicely.




Message 1 of 29
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Frequent Contributor

Re: Neiman Marcus files for bankruptcy

Resource link?







Message 2 of 29
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Frequent Contributor

Re: Neiman Marcus files for bankruptcy

https://www.reuters.com/article/us-neimanmarcus-bankruptcy-exclusive-idUSKBN2210CW

Not yet, but very soon...

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Message 3 of 29
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Super Contributor

Re: Neiman Marcus files for bankruptcy

I wonder what clothes shopping behaviors will look like a year or two from now...

 

On one hand, a pandemic can make a lot of luxury consumer products seem like a major waste of money. Even people with steady incomes can be more focused on health and necessities. I don't really use social media, but I've read it's kind of weird especially now with influencers (who are themselves struggling) promoting overpriced garbage in what most would consider poor taste...oblivious to the concerns of everyone else. But it's their source of income, so they promote.

 

On the other hand, what people don't spend on going out or travel they might want to spend at home...and when it ends, we may see demand for luxury rise greatly as people feel the desire to splurge again.

 

Of course, NM was likely to go even before covid.

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Message 4 of 29
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Epic Contributor

Re: Neiman Marcus files for bankruptcy


@Streetervillelady wrote:

This has me alarmed.  My Neiman's and Bergdorf's 25K SL's padded my utility nicely.


Sorry to hearSmiley Sad

 

Message 5 of 29
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Regular Contributor

Re: Neiman Marcus files for bankruptcy

Some of these stores have been on the ropes for years so it's not surprising. I'm always shocked Sears keeps surviving though. 


Moving away from big banks and building my credit union relationships
Message 6 of 29
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Valued Contributor

Re: Neiman Marcus files for bankruptcy


@wasCB14 wrote:

I wonder what clothes shopping behaviors will look like a year or two from now...

 

 I don't really use social media, but I've read it's kind of weird especially now with influencers (who are themselves struggling) promoting overpriced garbage in what most would consider poor taste...oblivious to the concerns of everyone else. But it's their source of income, so they promote.


Check out this recent article concerning influencers. They are absolutely shameless. lol: Influencer Brands Are Staying (Scarily) Strong And Are Quickly Pivoting To Quarantine Sponcon

'Sponcon' is 'sponsored content', while trying to play it off as if it's just another post about something unrelated. Like putting a Coke can or Apple laptop on a desk in a TV show.

 

Poor Neiman Marcus. Too many Starbucks and avocado toast. I bet they bought a brand new iPhone too. tsk tsk

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Message 7 of 29
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Regular Contributor

Re: Neiman Marcus files for bankruptcy

Crazy.. I applied for a NM card Saturday night and got a 30 day message. 

Message 8 of 29
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Valued Contributor

Re: Neiman Marcus files for bankruptcy



This was in the works for a while. Barney's has already effectively shut down and Macy's has maybe 5-10 years left before it's over. Writing's on the wall. I haven't looked at the numbers for Nordstrom but I imagine they're also in rough shape.

Message 9 of 29
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Senior Contributor

Re: Neiman Marcus files for bankruptcy

Not that I shop there or half the places on the edge of GOOB, but I will be sad if one day we can't get these items in a physical store. Not all of use like buying sight unseen online for everything...

 

Had to edit my reply as it bleeped out "I" for some reason. lol






Message 10 of 29
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