A Czech billionaire threw a wrench into the financial reconstruction plan for Macy's, investing almost $83 million for 5% of the retailer's shares and planning to take a role in the business. The move comes as the New York City-based department store chain signaled it might consider selling real estate to raise cash as it moves to open 775 stores by June.
As Macy’s Seeks Financing, Czech Billionaire Takes 5% Stake
Shareholder Plans to ‘Engage in Constructive Discussions’ While Retailer Considers Selling Off Real Estate
RELATED ARTICLES
This news story is available exclusively to CoStar subscribers.
Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success.
This news story is available exclusively to CoStar subscribers.
Ready to Learn More?
Sign Up For a Personalized Demo.
Sign Up For a Demo To Learn More.
Already A Subscriber? Sign In