Macy’s is taking extreme measures to avoid dire outcomes like bankruptcy, and will try to raise billions in debt to weather the pandemic crisis, according to people familiar with the matter.
The country’s largest department store is looking at raising as much as $5 billion in debt, the people said. It will seek to use its inventory as collateral to raise $3 billion and real estate to raise $1 billion to $2 billion, they said. . . . more