after furloughing 14,000 employees - becoming the first major US department store to shutter amid coronavirus pandemic.

eiman Marcus Group, one of the largest retailers in the United States, is reportedly ready to file bankruptcy amid the COVD-19 pandemic after defaulting millions in bond payments last week and furloughing 14,000 employees.

Neiman Marcus would become the first major US department store to crumble amidst the economic set backs from the coronavirus outbreak.

Reuters reported the company had few options after the coronavirus spurred lockdowns that shuttered non-essential businesses, including all 43 of their stores.

This includes Last Call stores and its two New York City Bergdorf Goodman department stores.