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Hudson’s Bay Examining Potential Neiman Marcus Buy

Ares Management LP and Canada Pension Plan Investment Board, owners of Neiman Marcus Group Ltd., are in discussions with rival retailer Hudson’s Bay Co. to sell. Upscale retailer Neiman Marcus has hired financial advisors to explore strategic alternatives that would help flagging sales. The alternatives range from outright sale of the company, to debt restructuring.

The retailer is dealing with approximately $5 billion in debt, as well as weak sales and poor earnings.

The Wall Street Journal said Hudson’s Bay wants a transaction that would provide control of the business without having to assume the company’s debt. Sources told the publication that Hudson’s Bay could buy Neiman’s assets with a structure that wouldn’t trigger a change in control. It would also leave the debt on Neiman’s books.

Hudson’s Bay owns Saks Fifth Avenue.

Read More at Wall Street Journal

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.