An investor group that comprises investment firm Mudrick Capital Management and hedge fund Third Point plans to challenge a $600 million financing package that Neiman Marcus has lined up for its looming bankruptcy.
Lord & Taylor is exploring filing for bankruptcy protection after it was forced to temporarily shut all of its 38 U.S. department stores in the wake of the coronavirus outbreak, sources said on Monday.
Neiman Marcus Group is said to be preparing to seek bankruptcy protection as soon as this week, becoming the first major U.S. department store operator to succumb to the economic fallout from the coronavirus outbreak.
Tiffany & Co said on Wednesday Australian regulators have sought more time to review LVMH's multi-billion dollar purchase of the U.S. jeweler due to the coronavirus outbreak, potentially delaying closure of the deal.
While fashion museums have had to close and even postpone the launch of upcoming exhibitions and events, many are getting creative and going digital to bring their exclusive work to people around the globe.
LVMH has denied planning to buy Tiffany shares on the open market, contradicting market rumors stating that they were about to do exactly that, after the US jeweler's stock price fell on the New York Stock Exchange.
Luxury jeweler Tiffany & Co forecast a significant results hit this year as it temporarily shut stores and said Friday it had lost about half of its operating days in mainland China since the coronavirus outbreak.