Neiman Marcus Bondholder Criticizes Transfer of Valuable Online Business

By Anonymous

Marble Ridge says retailer is in default after moving MyTheresa further from creditors’ reach; Neiman Marcus says move was allowed under debt documents

A Neiman Marcus Group Ltd. bondholder said the luxury retailer is in default on its debt after transferring online business MyTheresa to its parent company, further from the reach of creditors.

Distressed-debt investor Marble Ridge Capital LP said Friday that it sent a letter to Neiman Marcus “expressing concern” about the transaction.