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Nordstrom temporarily shutters headquarters on coronavirus fears - Metro US

Nordstrom temporarily shutters headquarters on coronavirus fears

Shoppers clutch their Nordstrom bags at an Old Navy store as holiday shopping accelerates at the King of Prussia Mall

(Reuters) – Nordstrom Inc <JWN.N> has temporarily shut down its corporate headquarters in Seattle due to the spread of the coronavirus in the area, the retailer said in a filing on Wednesday.

The department store chain operator also warned that its results for the first quarter and beyond would be “significantly” hurt by the fallout from the pandemic. (https://bit.ly/3e8cTmM)

The retailer, like many others, has closed stores, furloughed most of its employees and suspended dividends.

Nordstrom is also looking to raise $500 million in the bond market to bolster liquidity, securing the new bond against a newly established property company with $1 billion-$1.1 billion of real estate assets, IFR, Refinitiv’s capital markets publication reported earlier in the day.

The company has also drawn down $800 million from its existing credit line.

(Reporting by Aditi Sebastian in Bengaluru; Editing by Saumyadeb Chakrabarty)

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