Hudson’s Bay Hires Debt Adviser

Canada's Hudson's Bay Co. (Toronto) has hired a debt restructuring adviser to review a potential merger with department store Neiman Marcus (Dallas), which is $4.7 billion in debt.

Investment bank Evercore Partners Inc. will provide Hudson's Bay executives with how the companies can merge without Hudson's Bay assuming Neiman Marcus’ full debt, reports Reuters. Hudson's Bay currently has $2.4 billion in debt.

Neiman Marcus operates 42 department stores across the U.S. and two Bergdorf Goodman stores in Manhattan.