Marble Ridge Sues Neiman Marcus Over Alleged Fraud Scheme to Benefit Ares Management

Marble Ridge Capital brought suit against Neiman Marcus Group, alleging the company had fraudulently transferred $1 billion in assets for no consideration in order to benefit Ares Management and the Canada Pension Plan Investment Board, the beneficial owners of the Group.

Hudson’s Bay Taps EverCore Partners to Review Neiman Marcus Deal

Reuters reported that Canada’s Hudson’s Bay Co has engaged EverCore Partners to review potential options for combining its business with debt-laden U.S. department store operator Neiman Marcus Group.

Retail’s Costly Transformation

Somewhat encouraging numbers from this past holiday shopping season are lending good news to the overall economy, as consumer confidence strengthens and retail stocks tick upward. But the modest gains shouldn’t be interpreted as a rebound for the fractured retail industry, which will continue to face losses and a substantial transformation as it sweeps up the mess.