Neiman Marcus advances bankruptcy preparations, sources say

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A contractor enters a Neiman Marcus Group Ltd. store at the Hudson Yards development in New York, U.S., on Tuesday, March 5, 2019.

Demetrius Freeman | Bloomberg | Getty Images

Neiman Marcus is stepping up preparations to seek bankruptcy protection, after the coronavirus pandemic forced the debt-laden U.S. luxury department store chain to close its stores, people familiar with the matter said on Thursday.

Neiman began holding confidential discussions this week with bondholders about possible financing that would help the company continue operating while under bankruptcy protection, the sources said. The company has also started similar discussions in recent days

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Exclusive: Neiman Marcus advances bankruptcy preparations – sources

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NEW YORK (Reuters) – Neiman Marcus Group is stepping up preparations to seek bankruptcy protection, after the coronavirus pandemic forced the debt-laden U.S. luxury department store chain to close its stores, people familiar with the matter said on Thursday.

FILE PHOTO: Shoppers enter and exit the Neiman Marcus at the King of Prussia Mall, United States’ largest retail shopping space, in King of Prussia, Pennsylvania, U.S., December 8, 2018. REUTERS/Mark Makela

Neiman began holding confidential discussions this week with bondholders about possible financing that would help the company continue operating while under bankruptcy protection, the sources said. The company has

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Burger King’s parent is giving cash advances and rent deferrals to franchisees

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Jose Cil, CEO of Restaurant Brands International, speaks during an interview with CNBC on the floor at the New York Stock Exchange, November 6, 2019.

Brendan McDermid | Reuters

Restaurant Brands International is sending cash to franchisees and deferring rents as part of an effort to support its operators.

The coronavirus pandemic has put pressure on the restaurant industry as states close dining rooms and more U.S. consumers eat at home. Transactions at fast-food restaurants plummeted by 34% in the week ended March 22 compared with a year ago, according to the NPD Group. 

In North America, the Burger King

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