by Martin Armstrong, Armstrong Economics:
Neiman Marcus Group is preparing to seek bankruptcy according to Reuters. I have warned that brick & motor stores are in trouble and this lockdown will ensure that people will not be returning to malls and restaurants as they did before. All of the major retail stores are facing credit downgrades. Forbes has warned many are on a credit-watch such as Dillard’s, J.C. Penney, Macy’s, and Nordstrom just to mention a few.