German luxury web site Mytheresa was acquired by Neiman Marcus in 2014.

Neiman Marcus Group appears strapped for cash.

The department store chain and operator of Bergdorf Goodman disclosed on Friday that it has decided to take on additional PIK debt in order to make an upcoming interest payment on $600 million in bonds instead of making a cash payment, according to a filing with the Securities and Exchange Commission.

Neiman’s characterized the decision as one that will “enhance its liquidity” and said it will consider using PIK payments for future interest payments depending on “market conditions and other relevant factors at that time.”

Its current cash holdings stand at $105.8 million and it also has about $423 million in borrowing availability under a $900 million asset-based credit facility.

A company representative could not be immediately reached for comment.

Neiman’s financial woes are no secret — the company put itself up for sale in March with debt totaling $4.6 billion, a number that far outweighs the retailer’s earnings before interest, taxes, depreciation and amortization.

Hudson’s Bay Co., the operator of Saks Fifth Avenue, is thought be the frontrunner to buy Neiman’s, but the length of any negotiating process, which likely started in mid-March, was expected to take only four to six weeks.

For its part, Neiman’s said at the time that there was no timetable for a sale.

The retailer’s financial state is such that Fitch Ratings even speculated recently that a move similar to J. Crew’s attempt to separate its intellectual property to secure additional financing could be a possibility for Neiman’s, should it struggles continue much longer.

Since being purchased in 2013 by Canada Pension Plan Investment Board and Ares Management for $6 billion, Neiman’s has seen sales and profits slide, led by sluggish foot traffic and fleeting customer loyalty that have hit a majority of the retail industry.

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