Re:Neiman Marcus files for bankruptcy
by Spooky23 on Thursday May 07, 2020 @03:04PM
(#23106877)
What's the value again?
They plump up the turkey, borrow against it, and spread the losses across the market.
The original lenders benefit as they offload poorly underwritten debt. The owners of the distressed asset benefit because they get something. The people orchestrating the turnaround win via fees, etc.
They plump up the turkey, borrow against it, and spread the losses across the market.
The original lenders benefit as they offload poorly underwritten debt. The owners of the distressed asset benefit because they get something. The people orchestrating the turnaround win via fees, etc.