50 Brands on the Brink of Declaring Bankruptcy

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Luxury department stores are on their last legs. Neiman Marcus, in particular, reported positive sales and growth over the last five quarters, but that doesn’t make up for the years of losses. All that loss caused a significant amount of debt, something to the tune of $5 billion, and Neiman Marcus is having a hard time paying it off.

Neiman Marcus

Neiman Marcus, the American luxury department store chain, filed for Chapter 11 bankruptcy in May 2020, citing the impact of the COVID-19 pandemic on its business. The company received $675 million in financing to support its operations during the bankruptcy process.

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Did you know...

  • When it comes to counterfeiters, North Korea are pros. They have gotten so good at counterfeiting American currency (particularly the $50 and $100 bills) they their fakes are known as "superdollars." They require specialized Federal Reserve equipment to be identified. There are $45 million worth of North Korean fakes…that we know of.
  • It's an understatement to say that the odds when playing the lottery are not in your favor. You are statistically three times more likely to die in a car accident while driving 10 miles to buy a lottery ticket than you are to actually win. Even more astounding, over half the tickets in an average lottery draw are bought by only 5% of the participants.
  • The most expensive hotel room in the world (the Royal Penthouse Suite at the Hotel President Wilson in Geneva, Switzerland) costs $83,200 a night. That's $58 per minute for a stay! Good thing it has 12 bedrooms, 12 baths, a wraparound terrace, a Steinway piano, and an assigned private staff (including a chef)!
  • Have you ever wondered who prints the most money? That would be Hasbro, as in the makers of Monopoly. Hasbro prints more Monopoly money in a given year than there is money in the entire world. Each set of the game comes with $20,580. Bet you didn’t know you had that much money lying around the house!
  • Want a money saving tip? Ditch credit and debit cards, and stick to carrying around cash. Studies show people spend between 12 – 18% more when using a plastic card as opposed to when paying for things in cash. If you physically have to dole it out, you’re much more aware that you are spending your hard-earned money!