Jim Cramer: Expect More Retail Bankruptcies Ahead

Katherine Ross

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.

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