Neiman Marcus to Sell For 6 Billion?

Nieman Marcus

Popular luxury department store Neiman Marcus may have just been sold to the highest bidder.

According to the Huffington Post, on Monday (Sept 9) Ares Management and a Canandian Pension announced they’re buying the Neiman Marcus chain for $6 Billion. The deal is expected to be finalized before next year and if it does the brand would no longer be privately owned.

This decision comes after a plan for the store to go public in June.

Photo Credit: BreitBrit