Its chief executive, Geoffroy van Raemdonck, announced he was waiving his salary for April. The brand denied to vendors and its own employees at its sister brand Bergdorf Goodman that it was engaging advisers to explore a bankruptcy filing, but on April 14, the S&P downgraded Neiman's credit rating. Last week, the retailer did not make an interest payment that was due on April 15, angering bondholders and further fuelling suspicions that a bankruptcy filing was imminent. A spokesman for Neiman Marcus declined to comment.