Dallas-based Neiman Marcus seeks $10 million in bonuses for top executives amid bankruptcy

Local

(Photo by MANDEL NGAN / AFP) (Photo by MANDEL NGAN/AFP via Getty Images)

DALLAS, Texas (KDAF) — Neiman Marcus is catching the eye of the federal government, specifically the acting US Trustee overseeing the company’s bankruptcy, for requests to award top executives millions in bonuses.

Last week the US Trustee, Henry Hobbs, asked the bankruptcy court to reject the bonuses unless the luxury retailer is able to prove they are tied to performance and not a “pay-to-stay” plan for the executives.

The company requested $9.9 million in bonuses for the top executives, with $6 million specifically for CEO Geoffroy van Raemdonck.

Neiman Marcus filed for bankruptcy in May. Due to the coronavirus, the company furloughed 14,000 employees in March as stores nationwide shuttered.

30 Second Downloads

Dallas-based education developer donating app to help kids bridge learning gaps during pandemic

Don't Miss

Popular

Latest News

More News