Retail Roundup: Last call for Neiman Marcus’ off-price store on LI
August 20, 2020
It’s the last call for Last Call.
Neiman Marcus Last Call, an off-price clothing and home décor store, will close at Tanger Outlets Deer Park on Aug. 31, according to a state Labor Department filing.
The Deer Park store and one in Brooklyn will be among 17 Last Calls that high-end retailer Neiman Marcus will close by fall, leaving five open, but none in New York state, according to Neiman Marcus Group LTD LLC, which filed for Chapter 11 bankruptcy protection in May.
“This company had a huge amount of debt, highly leveraged, before the bankruptcy began. And that huge amount of debt left it in a very weak position to deal with COVID,” said Patrick T. Collins, an attorney at Farrell Fritz, P.C. in Uniondale who focuses on bankruptcies and restructuring.
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