Jim Cramer: Expect More Retail Bankruptcies Ahead
Will another retailer bite the dust?
Neiman Marcus is reportedly preparing to seek bankruptcy protection as soon as this week, per Reuters.
The debt-laden department store operator was forced by the coronavirus pandemic to temporarily shut all 43 of its Neiman Marcus locations, roughly two dozen Last Call stores and its two Bergdorf Goodman stores in New York.
The bankruptcy filing could come within days, sources told Reuters. Neiman Marcus skipped millions of dollars in debt payments last week, including one that only gave the company a few days to avoid a default.
Jim Cramer weighs in on the potential bankruptcy and gives his thoughts on whether or not we'll see more retailers file for bankruptcy due--at least in part--to the coronavirus pandemic.
Watch the full video above for more.
Want to know what Jim Cramer and his team at Action Alerts PLUS are thinking about the markets and the stocks they're watching? Sign up on Action Alerts PLUS for more.
Cramer and the team are weighing in on what members need to know about the coronavirus pandemic's impact on the market. Here's how you can recap his entire April show.
Watch More of the Latest Videos on TheStreet and Jim Cramer
- Hey Millennials: Start Your Portfolio With an S&P Index Fund
- Apple Is Still an 'Own, Don't Trade' Stock
- Supply Crunch for Gold and Silver to Continue
- This Day in Sports History: Cubs Play First Game in Weeghman Park, Which Becomes Wrigley Field
- These Five States Have the Most Affected Small Businesses Due to the Coronavirus