Neiman Marcus emerged from voluntary Chapter 11 protection. The company’s new owners, including PIMCO, Davidson Kempner Capital Management and Sixth Street, are funding a $750 million exit financing package.
The U.S. Bankruptcy Court for the Southern District of Texas, Houston Division approved Neiman Marcus Group to access debtor-in-possession financing, including the immediate availability of $250 million and an additional $150 million as needed after Sept. 4, 2020.
Scott Baxter joined Berkeley Research Group as a managing director in its energy and climate practice. Baxter previously worked for Petrie Partners, J.P. Morgan, Citigroup (Salomon Brothers) and Houlihan Lokey.
Berkeley Research Group is serving as financial advisor for Neiman Marcus Group, which commenced voluntary Chapter 11 proceedings and secured DIP financing of $675 million from its creditors.
Charlotte Russe Holdings and its subsidiaries entered discussions with prospective bidders for a going-concern sale of the company to continue its brick-and-mortar and online platforms.
ACG (New York) announced finalists in 31 different categories for the Third Annual ACG New York Champion’s Awards. Berkeley Research Group was named a finalist for Turnaround Deal of the Year and Energy Deal of the Year categories.