Two bids expected for Neiman Marcus

At least two groups of private equity firms are expected to submit bids to buy The Neiman Marcus Group Inc., Reuters reported Tuesday.

Reuters, citing sources familiar with the deal, said Kohlberg, Kravis Roberts & Co. has joined with Bain Capital, and Thomas H. Lee has joined with the Blackstone Group to submit bids at an auction for the Dallas-based luxury retailer.

The bids are expected to be near $5 billion, Reuters reports.

Neiman operates 35 Neiman Marcus stores, two Bergdorf Goodman stores in New York City, and 14 Last-Call clearance centers.