Friday Sept 25 2020
https://finance.yahoo.com/news/neiman-marcus-emerges-bankruptcy-173932839.html
Chapter 11 BK is a restructuring so the company can emerge and do business again. typically the stockholders get nothing, the bondholders are not paid but become the new stockholders. Neiman was taken by a hedge fund which did the typical thing, strip out the cash, and replace with debt, hello BK
This would never have happened when Stanley Marcus ran the company.
https://en.wikipedia.org/wiki/Stanley_Marcus
He authored a book reflectingon the experience named Minding the Store
Professor Elam 
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