Overview
- The company, which emerged from Chapter 11 Friday, rebranded as Exemplar Luxury Group and continues to operate Neiman Marcus, Saks Fifth Avenue and Bergdorf Goodman.
- The restructuring delivered a nearly 75 percent reduction in debt and, the company says, restored sufficient liquidity to fund operations and a turnaround plan.
- A seven-person board was reconstituted with two representatives each from Pentwater Capital Management and Bracebridge Capital and with CEO Geoffroy van Raemdonck joined by independent directors Dave Kimbell and Philippe Schaus.
- Leadership says the next phase will focus on an integrated retail model that pairs an optimized store footprint with expanded e-commerce, remote selling services, curated assortments and more personalized customer experiences.
- The bankruptcy filing in January 2026 was tied in reporting to heavy leverage from a prior $2.7 billion acquisition and to vendor and inventory strains, outcomes that the company addressed through store closures and the court-supervised restructuring.