Neiman Marcus Says No to IPO

It first applied for the IPO in August 2015

Neiman Marcus Group has decided not to go ahead with the initial public offering it originally filed for in August 2015.

“The Company has determined that it is not in its best interests to proceed with the initial public offering contemplated by the Registration Statement at this time,” said a Jan. 6 filing with the Securities and Exchange Commission.

Neiman’s plan for an IPO—which came two years after another aborted attempt to go public—faced immediate delays, with the company quickly deciding to hold off until 2016. But that year came and went, and now the company has decided to shelve the idea entirely.

In its latest financial results, for the quarter ended Oct. 29, the company said comp revenue decreased 8 percent, and it reported a $23.5 million loss.

The company is owned by Ares Management.

JCK News Director