RETAILER NEIMAN MARCUS EMERGES FROM BANKRUPTCY

Neiman Marcus Holding Co said Friday it has completed its Chapter 11 bankruptcy protection process, emerging from one of the highest-profile retail collapses during the COVID-19 pandemic. Its restructuring plan eliminated more than $4 billion of debt and $200 million of annual interest expense. The luxury department store chain said it had a new board of directors, including former LVMH North America Chairman Pauline Brown and former eBay Inc Chief Strategy Officer Kris Miller. Geoffroy van Raemdonck will continue to serve as chief executive of Neiman Marcus Group, which had filed for bankruptcy protection in May.