Neiman Marcus Group Announces Board Member Resignation
DALLAS, Texas – June 19, 2020 – Neiman Marcus Group LTD LLC (the “Company”) announced today that after undergoing emergency heart surgery last week, Marc Beilinson has tendered his immediate resignation to the Board of Managers of Neiman Marcus Group. While Mr. Beilinson expects to fully recover from this successful medical procedure in the coming weeks, Mr. Beilinson’s doctors have advised him to temporarily reduce his workload. Scott Vogel, who was designated a Disinterested Manager by the Board of Managers on April 28, 2020, will continue to discharge the responsibilities delegated to Mr. Vogel. The Company anticipates that its restructuring proceedings will continue uninterrupted and on the current timeline.
“The successful disposition of this case and preservation of one of the nation’s most iconic brands is of critical importance to me, and I came to this decision with the best interests of the company, its creditors, and my family in mind,” said Mr. Beilinson.
The Company thanks Mr. Beilinson for his efforts to help create a path for the Company to exit Chapter 11 as quickly as possible with a strong capital structure and a bright future, and wishes him well in his recovery.
Kirkland & Ellis LLP is serving as legal counsel to the Company, Lazard Ltd. is serving as the
Company’s investment banker, and Berkeley Research Group is serving as the Company’s
Court filings and other documents related to the Chapter 11 proceedings are available on a separate website administered by the Company’s claims agent, Stretto. For inquiries regarding the restructuring, please visit https://cases.stretto.com/NMG.
About Neiman Marcus Group
Neiman Marcus Group is a luxury, multi-branded, omni-channel fashion retailer conducting integrated store and online operations under the Neiman Marcus, Bergdorf Goodman, Neiman Marcus Last Call, and Horchow brand names. For more information, visit http://www.neimanmarcusgroup.com.