NEW YORK, March 25, 2019 /PRNewswire/ — Marble Ridge today has responded to the press release issued by Neiman Marcus Group LTD LLC (“Neiman Marcus”) announcing the execution of a transaction support agreement with a portion of its creditors.
Marble Ridge stated, “Marble Ridge stands by its publicly expressed concerns regarding Neiman’s questionable financial condition. This proposed transaction by Neiman Marcus, if consummated, will not only result in the stripping of several hundred million dollars of value for the benefit of the out-of-money Sponsors, but also substantially increase interest expense for an already over-levered company.
“Accordingly, Marble Ridge is pursuing the appropriate courses of action to protect its interests against the potential serious impairment all stakeholders face as a result of Neiman Marcus’ proposed transaction.”
Robert Siegfried / Cathryn Vaulman
SOURCE Marble Ridge Capital LP