“Neiman Marcus is in the same situation at Hudson Yards,” said Scott Stuart, CEO of Turnaround Management Association. “They’re the marquee name in that mall, and they’re way over-expanded and struggling a lot. They might have to restructure soon, too; there’s been buzz about that for a while. Just like Barneys, they’re a marquee retail brand that has commoditized itself too much. They think, ‘[What we do] works on Fifth Avenue, so it can work anywhere,’ but that’s not always the case.”

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