Neiman Marcus parent exits bankruptcy, rebrands as Exemplar

The parent company of luxury retailers Neiman Marcus, Saks Fifth Avenue, and Bergdorf Goodman has emerged from Chapter 11 bankruptcy, completing a restructuring process that leaves it with a new name, a significantly reduced debt load, and a smaller store footprint. The company, now called Exemplar Luxury Group, officially exited bankruptcy on Friday, June 26, 2026.

The restructuring has provided the company with a substantially strengthened balance sheet, including a nearly 75 percent reduction in debt and $500 million in new financing. A new seven-person board of directors has been formed, with representatives from the investment firms Pentwater Capital Management and Bracebridge Capital, which partnered with the company throughout the process. CEO Geoffroy van Raemdonck and two independent directors have also been named to the board.

Van Raemdonck stated that the new name reflects the company's commitment to exemplary shopping experiences, high-end merchandise, and personalized service. He expressed gratitude to customers, brand partners, and colleagues for their support during the process.

The company's financial troubles stemmed from its acquisition of the Neiman Marcus...