Dallas (WBAP/KLIF) – Dallas-based luxury retailer Neiman Marcus has emerged from chapter 11 bankruptcy with a new round of pink slips.
The company started notifying employees this week of additional widespread layoffs to include retail and restaurant workers, according to the Dallas Morning News.
As part of its bankruptcy filing, the company got rid of $4 billion in debt. Officials say that will take a couple of years to get back to pre-pandemic sales of $5billion dollars a year.
The company had already cut thousands from its over 14-thousand person workforce before filing for bankruptcy in May.
(Copyright 2020 WBAP/KLIF 24/7 News. This report contains material from the Dallas Morning News.)