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Neiman Marcus says exploring alternatives, including sale

March 14 Luxury fashion retailer Neiman Marcus Group Ltd LLC said on Tuesday it was exploring strategic alternatives, including a sale of the company.

Neiman Marcus, which withdrew its initial public offering in January, also reported a 6.1 percent drop in second-quarter revenue.

The retailer has hired investment bank Lazard Ltd to explore ways to bolster its balance sheet as it seeks relief from $4.9 billion in debt, Reuters reported this month. (Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Saumyadeb Chakrabarty)

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