Neiman Marcus Group Ltd. ended nearly a month of talks with its lenders and bondholders with no deal to extend debt maturing in the next two to three years, WSJ Pro Bankruptcy reported. The luxury retailer, however, still has time to try to convince creditors to extend $4.7 billion in debt coming due in 2020 and 2021, the people said. One sticking point in the talks was the company’s recent asset shuffling involving MyTheresa, the valuable international e-commerce business that was transferred to Neiman’s parent company. Lenders and bondholders wanted the company to offer either equity or collateral in MyTheresa in exchange for pushing out the debt maturities. In September, Neiman Marcus transferred MyTheresa to its parent company Neiman Marcus Group Inc., a move that pressured the company’s bonds because it weakened bondholders’ claims on the unit.
