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    Coronavirus News

    After weeks of rumors, Dallas-based Neiman Marcus declares bankruptcy

    Teresa Gubbins
    May 7, 2020 | 1:22 pm
    Neiman Marcus
    The company has been in business for more than a century.
    Courtesy photo

    After weeks in the works, Dallas-based Neiman Marcus has filed for Chapter 11 bankruptcy. In a statement issued on May 7, chairman and CEO Geoffroy van Raemdonck said that the driving force was the coronavirus pandemic.

    "Like most businesses today, we are facing unprecedented disruption caused by the COVID-19 pandemic, which has placed inexorable pressure on our business," van Raemdonck said.

    The luxury department store chain closed all 43 of its stores on March 18; most will remain closed through the end of May. Sorry, no bankruptcy sales.

    The company entered a restructuring agreement with its creditors that will reduce its debt load and interest payments, and support continued operations during the pandemic and beyond.

    Van Raemdonck said that, prior to COVID-19, Neiman Marcus Group was making "solid progress on our journey to long-term profitable and sustainable growth."

    "We have grown our unrivaled luxury customer base, expanded our industry-leading customer relationships, achieved higher omni-channel penetration, and made meaningful strides in our transformation to become the preeminent luxury customer platform," he said.

    "My team and I appreciate the partnership and the steadfast support of all our stakeholders and Board of Directors through this process," he said. "The binding agreement from our creditors gives us additional liquidity to operate the business during the pandemic and the financial flexibility to accelerate our transformation. We will emerge a far stronger company. In a world that is changing, we are uniquely positioned to give our brand partners access to our loyal luxury customers like no other company. We will deliver that through the strength of our associate relationships and digital solutions."

    Prior to the commencement of the Chapter 11 proceedings, new boards of managers were established at two debtor entities - Mariposa Intermediate Holdings LLC and Neiman Marcus Group LTD LLC - to lead the debtors through the restructuring process. Each board of managers is chaired by van Raemdonck and includes at least one independent manager. The creditors will become the majority owners.

    The company expects to emerge from the process in early fall 2020.

    Neiman Marcus Group also provided an update on actions it's taking to manage its business through the COVID-19 pandemic:

    • Temporary closures of some Neiman Marcus, Bergdorf Goodman, and Last Call stores, extended through May 31
    • Continue to serve customers remotely and digitally through its associates and style advisors, as well as on the Neiman Marcus and Bergdorf Goodman websites and apps.
    • Furloughs or temporary salary reductions for a large portion of associates through at least May 31 with the potential to either extend or shorten based on COVID-19 developments.

    A total of 10 stores nationwide are now open for curbside pickup: all Texas Neiman Marcus stores, plus Tampa, Las Vegas, and Tysons Corner.

    On May 4, the Atlanta and NorthPark Neiman Marcus stores became available to customers by private appointment.

    The company will continue to assess store closure decisions and will reopen stores as it is safe to do so based on the status of the pandemic. The Chapter 11 process will not impact the timing of store re-openings.

    Neiman Marcus is not the first: J Crew filed for bankrupcty on May 4.

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    Thrift Store News

    Dallas thrift chain Goodwill to open new location in former Big Lots

    Teresa Gubbins
    May 21, 2025 | 2:06 pm
    Goodwill store
    Goodwill
    Goodwill store

    A new destination for bargain hunters is coming to Carrollton: Goodwill Industries of Dallas will debut a new store at 3621 N. Josey Ln., in what was previously a Big Lots store. Still sad about losing Big Lots.

    According to a release, the new Goodwill will be a "state-of-the-art" store and donation drop-off center and will open on June 5.

    This store will be Goodwill Industries of Dallas' 19th location in its eight-county service area and will be a one-stop shop for affordable goods, including clothing, household items, and electronics.

    A donation drop-off center will feature a drive-thru and online receipt process. That online receipt process must be what makes it state-of-the-art. (That is only a guess since their PR team was unavailable for comment.)

    Goodwill President & CEO Tim Heis says in a statement that they're thrilled to open a second store in Carrollton, to support their ongoing reuse and recycling of donations as well as helping individuals be employed.

    "Every purchase made, and every item donated directly supports our free career training and job placement programs, making a tangible difference in the lives of many," Heis says.

    The new Carrollton store is specifically part of Goodwill Industries of Dallas, which has 19 locations including Mesquite, Irving, Plano, Garland, Frisco, Lewisville, Denton, and more.

    Goodwill Industries of Dallas has been operating since 1923, providing workforce development training, programs, and support services for individuals facing barriers to employment. It currently operates in eight counties across North Texas: Dallas, Ellis, Kaufman, Navarro, Rains, Rockwall, and parts of Collin and Denton counties.

    There is also a separate Goodwill North Central Texas, which is basically "Fort Worth" and has 27 locations of its own.

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