A thriving market for IPOs is helping ease tensions between a pair of struggling retailers and their lenders, as Neiman Marcus Group Ltd. and PetSmart Inc. explore selling their e-commerce platforms.
In recent months, both retailers have resolved disputes with creditors in large part by promising to pay them with proceeds from initial public offerings or sales of their online businesses. Those quarrels centered on the controversial transfer of stakes in those businesses out of the reach of creditors and closer to their private-equity...
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