Hudson’s Bay taps debt adviser amid Neiman Marcus bid challenges: sources

May 8, 2017 By Jessica DiNapoli and Lauren Hirsch (Reuters) – Canada’s Hudson’s Bay Co has hired a debt restructuring adviser to review potential options for combining its business with debt-laden U.S. department store operator Neiman Marcus Group, according to people familiar with the matter. The move is the clearest indication yet that Neiman Marcus’ $4.7 billion debt pile poses significant challenges to a merger between Hudson’s Bay, owner of the Lord & Taylor and Saks Fifth Avenue retail chains, and private equity-owned Neiman Marcus. Hudson’s Bay Executive Chairman Richard…

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