Exclusive: Neiman Marcus hires debt restructuring adviser – sources

U.S. high-end department store chain Neiman Marcus has hired investment bank Lazard Ltd to explore ways to bolster its balance sheet as it seeks relief from $4.9 billion in debt, people familiar with the matter said on Friday.
Neiman Marcus Group LLC [NMRCUS.UL] is in no immediate risk of bankruptcy, the sources said. However, the move makes it the highest-profile U.S. retailer to turn to a debt restructuring adviser so far this year, as consumers increasingly embrace the internet for shopping. Read more at Reuters.